Aviat Networks, Inc. (NASDAQ:AVNW) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. trimmed its stake in Aviat Networks, Inc. (NASDAQ:AVNW) by 23.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,855 shares of the communications equipment provider’s stock after selling 2,666 shares during the period. Aviat Networks comprises 1.7% of Mesirow Financial Investment Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Mesirow Financial Investment Management Inc. owned approximately 0.07% of Aviat Networks worth $340,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AVNW. Intrinsic Edge Capital Management LLC lifted its holdings in Aviat Networks by 80.9% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 67,100 shares of the communications equipment provider’s stock worth $2,191,000 after buying an additional 30,000 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Aviat Networks by 582.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,349 shares of the communications equipment provider’s stock valued at $77,000 after buying an additional 2,005 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in Aviat Networks by 39.1% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 23,664 shares of the communications equipment provider’s stock valued at $773,000 after acquiring an additional 6,648 shares during the last quarter. Millrace Asset Group Inc. purchased a new stake in shares of Aviat Networks in the 4th quarter valued at about $1,617,000. Finally, Trexquant Investment LP purchased a new position in Aviat Networks during the 4th quarter worth approximately $569,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Pete A. Smith purchased 1,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $30.70 per share, for a total transaction of $30,700.00. Following the acquisition, the chief executive officer now directly owns 242,199 shares in the company, valued at $7,435,509.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

AVNW has been the subject of a number of recent research reports. StockNews.com upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. B. Riley lowered their price objective on Aviat Networks from $59.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd.

Aviat Networks Price Performance

Shares of Aviat Networks stock traded up $0.35 on Wednesday, hitting $28.04. The company’s stock had a trading volume of 40,745 shares, compared to its average volume of 100,104. Aviat Networks, Inc. has a 52-week low of $25.08 and a 52-week high of $38.85. The company has a quick ratio of 1.79, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $30.55 and a 200-day moving average price of $32.55. The company has a market capitalization of $352.18 million, a P/E ratio of 24.50 and a beta of 1.80.

Aviat Networks (NASDAQ:AVNW) last released its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Aviat Networks had a net margin of 3.54% and a return on equity of 14.54%. The firm had revenue of $111.61 million during the quarter, compared to analysts’ expectations of $113.56 million. During the same quarter last year, the company posted $0.61 earnings per share. On average, equities research analysts expect that Aviat Networks, Inc. will post 2.84 earnings per share for the current fiscal year.

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.