NETGEAR, Inc. $NTGR Stock Position Lowered by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL cut its NETGEAR stake by 69.3%, selling 85,876 shares and holding 38,103 shares worth about $1.23 million at the end of the quarter.
• Several other institutions added or initiated positions—Leuthold, Allianz (up 169% to 109,322 shares) and Arrowstreet (690,981 shares) among them—and institutional ownership totals about 82.97% of the stock.
• NETGEAR beat the quarter with EPS $0.26 vs. $0.05 consensus and $182.47M revenue vs. $177.26M, but remains unprofitable (negative net margin and ROE); the stock trades near $21.57 with an average analyst price target of $36 and a consensus rating of "Hold".

Tudor Investment Corp ET AL decreased its position in NETGEAR, Inc. (NASDAQ:NTGR - Free Report) by 69.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 38,103 shares of the communications equipment provider's stock after selling 85,876 shares during the period. Tudor Investment Corp ET AL owned about 0.13% of NETGEAR worth $1,234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Leuthold Group LLC acquired a new stake in shares of NETGEAR in the third quarter worth $3,309,000. Allianz Asset Management GmbH grew its holdings in shares of NETGEAR by 169.0% during the third quarter. Allianz Asset Management GmbH now owns 109,322 shares of the communications equipment provider's stock valued at $3,541,000 after buying an additional 68,683 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in NETGEAR by 10.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 690,981 shares of the communications equipment provider's stock valued at $20,087,000 after buying an additional 63,398 shares during the period. Russell Investments Group Ltd. lifted its stake in NETGEAR by 77.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 122,703 shares of the communications equipment provider's stock worth $3,538,000 after acquiring an additional 53,370 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new stake in NETGEAR in the 2nd quarter worth about $1,744,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

NETGEAR Stock Performance

NTGR opened at $21.57 on Monday. The stock has a market cap of $606.33 million, a price-to-earnings ratio of -34.79 and a beta of 1.16. NETGEAR, Inc. has a 1 year low of $18.75 and a 1 year high of $36.86. The stock has a fifty day moving average price of $21.19 and a 200 day moving average price of $25.67.

NETGEAR (NASDAQ:NTGR - Get Free Report) last issued its earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.21. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The firm had revenue of $182.47 million for the quarter, compared to the consensus estimate of $177.26 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The business's quarterly revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts forecast that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on NTGR. Zacks Research raised NETGEAR from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 10th. Stifel Nicolaus set a $36.00 price target on shares of NETGEAR in a research report on Thursday, February 5th. Wall Street Zen upgraded shares of NETGEAR from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of NETGEAR in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $36.00.

Insider Activity at NETGEAR

In related news, insider Pramod Badjate sold 3,000 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $20.97, for a total value of $62,910.00. Following the completion of the sale, the insider owned 144,586 shares of the company's stock, valued at approximately $3,031,968.42. The trade was a 2.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company's stock.

NETGEAR Profile

NETGEAR, Inc NASDAQ: NTGR is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.

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