BNP Paribas Financial Markets Buys 12,306 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

BNP Paribas Financial Markets lifted its position in Aviat Networks, Inc. (NASDAQ:AVNW) by 635.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,244 shares of the communications equipment provider’s stock after purchasing an additional 12,306 shares during the period. BNP Paribas Financial Markets owned about 0.11% of Aviat Networks worth $308,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Aviat Networks by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,905 shares of the communications equipment provider’s stock worth $1,374,000 after acquiring an additional 3,401 shares during the last quarter. nVerses Capital LLC purchased a new position in Aviat Networks during the 2nd quarter valued at about $29,000. Rhumbline Advisers increased its holdings in Aviat Networks by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 18,716 shares of the communications equipment provider’s stock valued at $537,000 after purchasing an additional 523 shares during the period. Hodges Capital Management Inc. lifted its holdings in Aviat Networks by 80.8% in the 2nd quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock worth $10,487,000 after buying an additional 163,365 shares during the period. Finally, Anchor Capital Advisors LLC grew its position in shares of Aviat Networks by 11.7% in the 2nd quarter. Anchor Capital Advisors LLC now owns 38,751 shares of the communications equipment provider’s stock worth $1,112,000 after buying an additional 4,054 shares during the last quarter. 78.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Michael Connaway acquired 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $14.13 per share, with a total value of $49,455.00. Following the completion of the acquisition, the chief financial officer now directly owns 57,893 shares of the company’s stock, valued at approximately $818,028.09. The trade was a 6.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Pete A. Smith bought 3,000 shares of the stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $14.13 per share, for a total transaction of $42,390.00. Following the acquisition, the chief executive officer now owns 298,539 shares of the company’s stock, valued at $4,218,356.07. This trade represents a 1.02 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,400 shares of company stock valued at $106,110 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AVNW shares. JMP Securities restated a “market outperform” rating and set a $50.00 target price on shares of Aviat Networks in a report on Tuesday, October 8th. Northland Securities decreased their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Lake Street Capital dropped their target price 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. Roth Mkm reduced their price target on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.60.

Aviat Networks Price Performance

Shares of NASDAQ AVNW opened at $18.12 on Monday. The firm has a market cap of $229.94 million, a P/E ratio of -58.45 and a beta of 1.72. Aviat Networks, Inc. has a twelve month low of $12.95 and a twelve 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. The company has a 50 day moving average of $18.37 and a 200 day moving average of $24.05.

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

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.