PDT Partners LLC Takes $372,000 Position in Aviat Networks, Inc. (NASDAQ:AVNW)

PDT Partners LLC acquired a new stake in Aviat Networks, Inc. (NASDAQ:AVNW) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 17,215 shares of the communications equipment provider’s stock, valued at approximately $372,000.

Other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of Aviat Networks in the 3rd quarter valued at $589,000. Select Equity Group L.P. boosted its position in Aviat Networks by 8.7% during the 2nd quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock valued at $10,907,000 after buying an additional 30,582 shares during the period. Vanguard Group Inc. boosted its position in Aviat Networks by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock valued at $21,166,000 after buying an additional 11,662 shares during the period. Hodges Capital Management Inc. boosted its position in Aviat Networks by 80.8% during the 2nd quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock valued at $10,487,000 after buying an additional 163,365 shares during the period. Finally, Royce & Associates LP boosted its position in Aviat Networks by 8.5% during the 3rd quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock valued at $15,063,000 after buying an additional 54,339 shares during the period. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AVNW shares. Northland Securities dropped their price target on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Roth Mkm dropped their price target on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Lake Street Capital dropped their price target on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. B. Riley dropped their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, Aviat Networks currently has an average rating of “Moderate Buy” and an average target price of $38.60.

Aviat Networks Stock Up 5.3 %

NASDAQ:AVNW opened at $16.79 on Wednesday. The company has a 50-day moving average price of $19.00 and a 200-day moving average price of $24.88. Aviat Networks, Inc. has a 12 month low of $12.95 and a 12 month high of $38.85. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.33.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. The company had revenue of $116.66 million during the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. On average, research analysts expect that Aviat Networks, Inc. will post 1.13 earnings per share for the current year.

Insider Buying and Selling

In other Aviat Networks news, CFO Michael Connaway purchased 3,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of $14.13 per share, for a total transaction of $49,455.00. Following the purchase, the chief financial officer now directly owns 57,893 shares in the company, valued at $818,028.09. The trade was a 6.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Pete A. Smith purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $14.13 per share, with a total value of $42,390.00. Following the completion of the purchase, the chief executive officer now owns 298,539 shares in the company, valued at $4,218,356.07. This represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 7,400 shares of company stock worth $106,110 in the last three months. 4.10% of the stock is owned by corporate insiders.

Aviat Networks Company 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.