NETGEAR, Inc. (NASDAQ:NTGR) Shares Acquired by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management significantly increased its stake in NETGEAR by 4,835.7%, acquiring a total of 162,878 shares worth approximately $3.98 million.
• Other institutional investors also increased their positions, with Barclays PLC raising its stake by 343.1% during the same period.
• NETGEAR's recent quarterly earnings showed a positive EPS of $0.02, beating estimates by $0.37, despite experiencing a 1.5% decline in revenue year-over-year.

Picton Mahoney Asset Management increased its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 4,835.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,878 shares of the communications equipment provider's stock after purchasing an additional 159,578 shares during the quarter. Picton Mahoney Asset Management owned 0.57% of NETGEAR worth $3,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC boosted its stake in shares of NETGEAR by 35.4% in the first quarter. CWM LLC now owns 2,916 shares of the communications equipment provider's stock valued at $71,000 after purchasing an additional 763 shares during the period. Summit Investment Advisors Inc. boosted its stake in NETGEAR by 19.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,917 shares of the communications equipment provider's stock valued at $81,000 after acquiring an additional 479 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in NETGEAR during the 1st quarter valued at $154,000. ProShare Advisors LLC bought a new position in NETGEAR during the 4th quarter valued at $219,000. Finally, PharVision Advisers LLC bought a new position in NETGEAR during the 4th quarter valued at $227,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Trading Down 3.2%

NASDAQ NTGR traded down $0.75 during trading hours on Friday, reaching $22.50. 807,440 shares of the company traded hands, compared to its average volume of 414,727. NETGEAR, Inc. has a 12 month low of $13.95 and a 12 month high of $31.55. The stock has a market capitalization of $647.55 million, a PE ratio of 10.42 and a beta of 1.07. The company has a 50 day moving average of $28.28 and a two-hundred day moving average of $26.67.

NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its earnings results on Wednesday, July 30th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.22. The company had revenue of $170.53 million for the quarter, compared to analysts' expectations of $162.06 million. NETGEAR had a net margin of 9.13% and a negative return on equity of 3.24%. The firm's revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.74) earnings per share. On average, equities research analysts anticipate that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

Insiders Place Their Bets

In other NETGEAR news, Director Sarah Butterfass sold 5,848 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $28.89, for a total transaction of $168,948.72. Following the sale, the director directly owned 41,657 shares of the company's stock, valued at approximately $1,203,470.73. This represents a 12.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Graeme Mclindin sold 2,377 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.38, for a total transaction of $67,459.26. Following the completion of the sale, the vice president directly owned 61,208 shares in the company, valued at approximately $1,737,083.04. This trade represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,000 shares of company stock valued at $490,401. Company insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of NETGEAR from a "buy" rating to a "hold" rating in a research note on Saturday.

NETGEAR Profile

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.