Aviat Networks, Inc. $AVNW Holdings Cut by Rhumbline Advisers

Rhumbline Advisers decreased its stake in Aviat Networks, Inc. (NASDAQ:AVNW) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,193 shares of the communications equipment provider’s stock after selling 897 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Aviat Networks worth $330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVNW. Jacobs Levy Equity Management Inc. purchased a new stake in Aviat Networks in the 1st quarter worth approximately $3,783,000. Nuveen LLC bought a new position in shares of Aviat Networks during the 1st quarter valued at $3,366,000. Pacific Ridge Capital Partners LLC bought a new position in shares of Aviat Networks during the 1st quarter valued at $3,120,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Aviat Networks by 148.0% during the 1st 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 purchasing an additional 69,521 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Aviat Networks by 2,524.9% during the 1st quarter. GAMMA Investing LLC now owns 49,689 shares of the communications equipment provider’s stock valued at $953,000 after purchasing an additional 47,796 shares in the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Insiders Place Their Bets

In related news, VP Erin Boase sold 5,634 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $25.00, for a total value of $140,850.00. Following the transaction, the vice president directly owned 22,290 shares in the company, valued at approximately $557,250. This trade represents a 20.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Gary Croke sold 6,742 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $22.41, for a total transaction of $151,088.22. Following the completion of the transaction, the senior vice president owned 45,159 shares in the company, valued at $1,012,013.19. The trade was a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,576 shares of company stock worth $296,938 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Aviat Networks Stock Performance

NASDAQ:AVNW opened at $22.81 on Thursday. Aviat Networks, Inc. has a 1 year low of $12.95 and a 1 year high of $26.83. The firm’s fifty day simple moving average is $22.74 and its 200 day simple moving average is $21.25. The company has a current ratio of 1.64, a quick ratio of 1.35 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $290.37 million, a PE ratio of 285.16 and a beta of 1.59.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $36.50.

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.