Amalgamated Bank Sells 2,866 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Amalgamated Bank reduced its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,188 shares of the communications equipment provider’s stock after selling 2,866 shares during the quarter. Amalgamated Bank’s holdings in Viavi Solutions were worth $588,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Viavi Solutions during the 2nd quarter worth about $38,000. Headlands Technologies LLC acquired a new position in shares of Viavi Solutions in the 1st quarter worth approximately $55,000. Quarry LP lifted its position in shares of Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 5,838 shares during the period. Summit Securities Group LLC bought a new stake in Viavi Solutions in the second quarter valued at $52,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Viavi Solutions during the second quarter valued at $76,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Trading Down 1.9 %

VIAV opened at $9.87 on Friday. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -58.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The firm has a 50 day simple moving average of $9.18 and a 200 day simple moving average of $8.16.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. On average, sell-side analysts anticipate that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the sale, the director now owns 225,333 shares in the company, valued at $2,284,876.62. This represents a 6.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the transaction, the senior vice president now owns 56,617 shares in the company, valued at approximately $488,604.71. This represents a 12.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,652 shares of company stock worth $817,585. 1.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VIAV. Rosenblatt Securities lifted their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. B. Riley dropped their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus decreased their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Viavi Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.