Western Standard LLC Grows Holdings in Aviat Networks, Inc. $AVNW

Key Points

• Western Standard LLC increased its stake in Aviat Networks by 84.5% in Q4 to 494,238 shares, representing a 3.85% ownership of the company (~$10.57M) and about 4.9% of the fund's portfolio (its sixth-largest holding).
• Aviat missed expectations in its latest quarter, reporting $0.06 EPS versus $0.42 expected and $100.0M in revenue versus $106.4M expected, with a market cap of roughly $211M.
• CEO Pete A. Smith sold 17,086 shares at an average $26.33 (a 4.55% reduction in his position), and institutional investors now own approximately 78.62% of the company's stock.

Western Standard LLC lifted its holdings in shares of Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 84.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 494,238 shares of the communications equipment provider's stock after purchasing an additional 226,332 shares during the period. Aviat Networks comprises about 4.9% of Western Standard LLC's investment portfolio, making the stock its 6th biggest position. Western Standard LLC owned 3.85% of Aviat Networks worth $10,567,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Weber Capital Management LLC ADV purchased a new stake in Aviat Networks during the 4th quarter valued at $3,099,000. Hotchkis & Wiley Capital Management LLC grew its holdings in Aviat Networks by 67.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 285,868 shares of the communications equipment provider's stock worth $6,555,000 after acquiring an additional 115,298 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in Aviat Networks by 34.5% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 311,254 shares of the communications equipment provider's stock worth $7,137,000 after acquiring an additional 79,774 shares during the last quarter. UBS Group AG grew its holdings in Aviat Networks by 304.7% in the 3rd quarter. UBS Group AG now owns 55,960 shares of the communications equipment provider's stock worth $1,283,000 after acquiring an additional 42,134 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Aviat Networks by 207.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 47,476 shares of the communications equipment provider's stock worth $1,089,000 after acquiring an additional 32,054 shares during the last quarter. Institutional investors own 78.62% of the company's stock.

Insider Activity at Aviat Networks

In other news, CEO Pete A. Smith sold 17,086 shares of the firm's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $26.33, for a total value of $449,874.38. Following the completion of the sale, the chief executive officer directly owned 358,747 shares of the company's stock, valued at approximately $9,445,808.51. This trade represents a 4.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.30% of the company's stock.

Aviat Networks Trading Down 0.9%

NASDAQ:AVNW opened at $16.32 on Friday. The company has a 50-day moving average price of $23.07 and a 200-day moving average price of $22.76. Aviat Networks, Inc. has a 12 month low of $13.92 and a 12 month high of $27.02. The company has a current ratio of 1.99, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The stock has a market cap of $211.18 million, a price-to-earnings ratio of 23.65 and a beta of 0.82.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last posted its earnings results on Monday, May 4th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%.The company had revenue of $100.00 million during the quarter, compared to analysts' expectations of $106.39 million. Equities analysts predict that Aviat Networks, Inc. will post 1.95 EPS for the current year.

Analyst Ratings Changes

AVNW has been the topic of a number of recent analyst reports. B. Riley Financial reissued a "buy" rating and issued a $36.00 price target (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Weiss Ratings lowered shares of Aviat Networks from a "hold (c)" rating to a "sell (d)" rating in a report on Wednesday. Wall Street Zen lowered shares of Aviat Networks from a "buy" rating to a "hold" rating in a report on Sunday, April 26th. Zacks Research raised shares of Aviat Networks from a "strong sell" rating to a "hold" rating in a report on Friday, January 23rd. Finally, Lake Street Capital set a $31.00 price target on shares of Aviat Networks and gave the stock a "buy" rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Aviat Networks has an average rating of "Hold" and a consensus target price of $30.00.

Aviat Networks Company Profile

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company's offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat's core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.

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