Pacific Ridge Capital Partners LLC Acquires New Shares in Aviat Networks, Inc. (NASDAQ:AVNW)

Key Points

• Pacific Ridge Capital Partners LLC acquired 162,756 shares of Aviat Networks, valued at approximately $3.12 million, indicating a new investment position in the company.
• Approximately 78.62% of Aviat Networks' stock is owned by institutional investors, with significant holdings increased by firms like GAMMA Investing LLC and Bank of America Corp DE.
• Aviat Networks' stock is currently trading at $20.86, down 3.4% on the trading day, with a market cap of $265.55 million and significant price volatility over the past year.

Pacific Ridge Capital Partners LLC bought a new stake in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 162,756 shares of the communications equipment provider's stock, valued at approximately $3,120,000. Pacific Ridge Capital Partners LLC owned about 1.28% of Aviat Networks as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Aviat Networks by 36.9% in the 1st quarter. GAMMA Investing LLC now owns 2,592 shares of the communications equipment provider's stock valued at $50,000 after buying an additional 699 shares in the last quarter. Franklin Resources Inc. boosted its stake in Aviat Networks by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 173,940 shares of the communications equipment provider's stock valued at $3,150,000 after buying an additional 3,288 shares in the last quarter. Bank of America Corp DE boosted its stake in Aviat Networks by 125.4% in the 4th quarter. Bank of America Corp DE now owns 35,072 shares of the communications equipment provider's stock valued at $635,000 after buying an additional 19,511 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Aviat Networks in the 4th quarter valued at $1,870,000. Finally, Northern Trust Corp boosted its stake in Aviat Networks by 1.3% in the 4th quarter. Northern Trust Corp now owns 101,091 shares of the communications equipment provider's stock valued at $1,831,000 after buying an additional 1,321 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company's stock.

Aviat Networks Price Performance

AVNW traded up $0.11 during trading on Tuesday, hitting $21.42. The company's stock had a trading volume of 18,236 shares, compared to its average volume of 127,117. The firm's 50 day moving average price is $23.02 and its two-hundred day moving average price is $20.83. The company has a quick ratio of 1.29, a current ratio of 1.62 and a debt-to-equity ratio of 0.27. Aviat Networks, Inc. has a 12 month low of $12.95 and a 12 month high of $28.65. The stock has a market capitalization of $272.68 million, a price-to-earnings ratio of -106.63 and a beta of 1.56.

Insider Transactions at Aviat Networks

In other Aviat Networks news, VP Erin Boase sold 5,634 shares of Aviat Networks stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $25.00, for a total value of $140,850.00. Following the completion of the transaction, the vice president owned 22,290 shares in the company, valued at approximately $557,250. The trade was a 20.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 10,601 shares of company stock valued at $255,825. Insiders own 4.10% of the company's stock.

Aviat Networks Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.