Westwood Holdings Group Inc. Sells 3,314,486 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Westwood Holdings Group Inc. reduced its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 45.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,905,477 shares of the communications equipment provider's stock after selling 3,314,486 shares during the quarter. Westwood Holdings Group Inc. owned approximately 1.76% of Viavi Solutions worth $39,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its stake in shares of Viavi Solutions by 35.0% during the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock valued at $32,000 after acquiring an additional 833 shares during the last quarter. Sterling Capital Management LLC raised its position in Viavi Solutions by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after purchasing an additional 6,171 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Viavi Solutions during the 4th quarter valued at approximately $75,000. Smartleaf Asset Management LLC raised its position in Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock valued at $84,000 after purchasing an additional 7,434 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Viavi Solutions by 64.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock valued at $95,000 after purchasing an additional 3,684 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VIAV shares. UBS Group decreased their target price on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. B. Riley decreased their price objective on shares of Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. StockNews.com upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Northland Securities reissued an "outperform" rating and issued a $14.00 price target (up from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Finally, Argus increased their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Viavi Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $12.69.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $9.28 on Tuesday. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $12.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The business has a fifty day moving average price of $10.26 and a 200-day moving average price of $10.54. The company has a market capitalization of $2.07 billion, a PE ratio of -51.55 and a beta of 0.92.

Insider Activity at Viavi Solutions

In other news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $8.92, for a total value of $74,794.20. Following the completion of the sale, the director now directly owns 259,081 shares in the company, valued at $2,311,002.52. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP James L. Veler, Jr. sold 13,807 shares of Viavi Solutions stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. Insiders sold 45,549 shares of company stock valued at $485,916 over the last 90 days. Corporate insiders own 1.52% of the company's stock.

Viavi Solutions Company Profile

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.

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