Jane Street Group LLC Raises Position in Aviat Networks, Inc. (NASDAQ:AVNW)

Jane Street Group LLC lifted its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 59.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,737 shares of the communications equipment provider’s stock after purchasing an additional 9,186 shares during the period. Jane Street Group LLC’s holdings in Aviat Networks were worth $535,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AVNW. Bank of New York Mellon Corp increased its stake in shares of Aviat Networks by 7.6% during 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 purchasing an additional 3,401 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Aviat Networks by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 18,716 shares of the communications equipment provider’s stock worth $537,000 after purchasing an additional 523 shares during the last quarter. Anchor Capital Advisors LLC increased its stake in shares of Aviat Networks by 11.7% during the 2nd quarter. Anchor Capital Advisors LLC now owns 38,751 shares of the communications equipment provider’s stock worth $1,112,000 after purchasing an additional 4,054 shares during the last quarter. Bright Futures Wealth Management LLC. increased its stake in shares of Aviat Networks by 16.2% during the 2nd quarter. Bright Futures Wealth Management LLC. now owns 17,022 shares of the communications equipment provider’s stock worth $484,000 after purchasing an additional 2,375 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Aviat Networks by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 17,604 shares of the communications equipment provider’s stock worth $505,000 after purchasing an additional 2,375 shares during the last quarter. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Aviat Networks Trading Up 1.8 %

Aviat Networks stock opened at $18.40 on Monday. The stock has a market cap of $233.50 million, a P/E ratio of -59.35 and a beta of 1.72. Aviat Networks, Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $38.85. The firm’s fifty day moving average price is $16.93 and its 200-day moving average price is $22.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72.

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

Insider Buying and Selling

In related news, CFO Michael Connaway bought 3,500 shares of the business’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 completion of the transaction, the chief financial officer now owns 57,893 shares of the company’s stock, valued at approximately $818,028.09. The trade was a 6.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Pete A. Smith bought 3,000 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 $42,390.00. Following the completion of the transaction, the chief executive officer now directly owns 298,539 shares of the company’s stock, valued at $4,218,356.07. This represents a 1.02 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 7,400 shares of company stock worth $106,110. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

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

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.