Goldman Sachs Group Inc. Lowers Position in Aviat Networks, Inc. $AVNW

Goldman Sachs Group Inc. lessened its position in Aviat Networks, Inc. (NASDAQ:AVNW) by 51.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,063 shares of the communications equipment provider’s stock after selling 36,388 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.27% of Aviat Networks worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVNW. GAMMA Investing LLC lifted its stake in shares of Aviat Networks by 36.9% in the 1st quarter. GAMMA Investing LLC now owns 2,592 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 699 shares during the period. Comerica Bank lifted its stake in shares of Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 780 shares during the period. US Bancorp DE purchased a new position in Aviat Networks during the first quarter valued at $82,000. NBC Securities Inc. purchased a new position in Aviat Networks during the first quarter valued at $274,000. Finally, Kirr Marbach & Co. LLC IN raised its stake in Aviat Networks by 47.6% during the first quarter. Kirr Marbach & Co. LLC IN now owns 18,600 shares of the communications equipment provider’s stock valued at $357,000 after buying an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Aviat Networks from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $36.50.

Insiders Place Their Bets

In other Aviat Networks news, VP Erin Boase sold 5,634 shares of Aviat Networks stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $25.00, for a total value of $140,850.00. Following the completion of the sale, the vice president owned 22,290 shares of the company’s stock, valued at approximately $557,250. This trade represents a 20.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gary Croke sold 6,742 shares of Aviat Networks stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $22.41, for a total value of $151,088.22. Following the completion of the sale, the senior vice president directly owned 45,159 shares of the company’s stock, valued at approximately $1,012,013.19. The trade was a 12.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,576 shares of company stock valued at $296,938. Corporate insiders own 4.10% of the company’s stock.

Aviat Networks Stock Down 2.6%

Shares of NASDAQ:AVNW opened at $22.81 on Thursday. The stock has a fifty day simple moving average of $22.74 and a two-hundred day simple moving average of $21.25. The stock has a market capitalization of $290.37 million, a price-to-earnings ratio of 285.16 and a beta of 1.59. Aviat Networks, Inc. has a 12-month low of $12.95 and a 12-month high of $26.83. The company has a current ratio of 1.64, a quick ratio of 1.35 and a debt-to-equity ratio of 0.26.

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.