Aviat Networks, Inc. $AVNW Shares Sold by Paradigm Capital Management Inc. NY

Key Points

• Paradigm Capital Management Inc. NY has reduced its stake in Aviat Networks by 52.4%, selling 81,400 shares and now owning 73,963 shares worth approximately $1.4 million.
• Aviat Networks' stock has fallen by 1.2%, and currently trades at $22.96, with a market cap of $292.28 million.
• Insiders at Aviat Networks recently sold 10,601 shares worth over $255,000 in the last quarter, indicating potential changes in confidence among company leaders.

Paradigm Capital Management Inc. NY lowered its position in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 52.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,963 shares of the communications equipment provider's stock after selling 81,400 shares during the quarter. Paradigm Capital Management Inc. NY owned about 0.58% of Aviat Networks worth $1,418,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AVNW. Bastion Asset Management Inc. acquired a new stake in Aviat Networks in the 4th quarter valued at approximately $3,077,000. Nuveen LLC purchased a new stake in shares of Aviat Networks during the 1st quarter worth $3,366,000. Pacific Ridge Capital Partners LLC acquired a new stake in shares of Aviat Networks during the first quarter worth about $3,120,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Aviat Networks during the fourth quarter worth approximately $1,870,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Aviat Networks by 148.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 116,485 shares of the communications equipment provider's stock valued at $2,233,000 after buying an additional 69,521 shares during the last quarter. Hedge funds and other institutional investors own 78.62% of the company's stock.

Insider Transactions at Aviat Networks

In other Aviat Networks news, SVP Gary Croke sold 6,742 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $22.41, for a total transaction of $151,088.22. Following the transaction, the senior vice president directly owned 45,159 shares in the company, valued at approximately $1,012,013.19. This represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Erin Boase sold 5,634 shares of Aviat Networks stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $25.00, for a total transaction of $140,850.00. Following the sale, the vice president owned 22,290 shares of the company's stock, valued at approximately $557,250. The trade was a 20.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,343 shares of company stock worth $406,913. 4.10% of the stock is owned by insiders.

Aviat Networks Stock Performance

Shares of NASDAQ:AVNW traded down $0.67 on Wednesday, reaching $21.74. The company's stock had a trading volume of 94,845 shares, compared to its average volume of 95,666. Aviat Networks, Inc. has a 52-week low of $12.95 and a 52-week high of $26.98. The stock's 50-day moving average is $23.02 and its two-hundred day moving average is $21.03. The stock has a market capitalization of $276.75 million, a P/E ratio of -108.70 and a beta of 1.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.29.

About Aviat Networks

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.