Mackenzie Financial Corp boosted its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 117.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,492 shares of the communications equipment provider's stock after buying an additional 32,145 shares during the period. Mackenzie Financial Corp's holdings in Viavi Solutions were worth $601,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its stake in Viavi Solutions by 35.0% in the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock worth $32,000 after buying an additional 833 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Viavi Solutions by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after purchasing an additional 6,171 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Viavi Solutions in the 4th quarter valued at about $75,000. Smartleaf Asset Management LLC lifted its stake in shares of Viavi Solutions by 836.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock valued at $84,000 after purchasing an additional 7,434 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Viavi Solutions by 64.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock valued at $95,000 after purchasing an additional 3,684 shares in the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Richard Belluzzo sold 8,385 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $8.92, for a total value of $74,794.20. Following the completion of the sale, the director now directly owns 259,081 shares in the company, valued at approximately $2,311,002.52. The trade was a 3.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is owned by company insiders.
Viavi Solutions Stock Up 1.2%
VIAV stock traded up $0.11 during midday trading on Friday, hitting $9.42. 212,785 shares of the company's stock were exchanged, compared to its average volume of 1,903,557. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $12.91. The firm has a 50 day moving average price of $9.70 and a 200-day moving average price of $10.44. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -52.40 and a beta of 0.92.
Analyst Ratings Changes
Several equities analysts have recently weighed in on VIAV shares. B. Riley reduced their price objective on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Rosenblatt Securities raised their target price on Viavi Solutions from $12.00 to $13.50 and gave the company a "buy" rating in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of Viavi Solutions in a report on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $12.69.
View Our Latest Research Report on Viavi Solutions
About Viavi Solutions
(
Free Report)
Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.
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