Gary Croke Sells 629 Shares of Aviat Networks (NASDAQ:AVNW) Stock

Aviat Networks, Inc. (NASDAQ:AVNW) SVP Gary Croke sold 629 shares of Aviat Networks stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $19.69, for a total transaction of $12,385.01. Following the transaction, the senior vice president directly owned 42,479 shares of the company’s stock, valued at approximately $836,411.51. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Aviat Networks Stock Performance

Shares of AVNW traded down $1.27 during trading hours on Tuesday, hitting $18.66. The stock had a trading volume of 201,916 shares, compared to its average volume of 166,667. The firm has a 50-day moving average price of $20.91 and a 200 day moving average price of $21.23. Aviat Networks, Inc. has a fifty-two week low of $13.92 and a fifty-two week high of $27.02. The firm has a market capitalization of $238.85 million, a price-to-earnings ratio of 98.21 and a beta of 0.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.97.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. Aviat Networks had a net margin of 0.58% and a return on equity of 5.85%. The company had revenue of $120.89 million for the quarter, compared to analyst estimates of $110.12 million. As a group, research analysts anticipate that Aviat Networks, Inc. will post 2.44 EPS for the current year.

Institutional Investors Weigh In On Aviat Networks

Large investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Aviat Networks during the second quarter valued at approximately $28,000. Quarry LP acquired a new stake in shares of Aviat Networks in the third quarter worth approximately $27,000. Potomac Capital Management Inc. acquired a new stake in shares of Aviat Networks in the fourth quarter worth approximately $43,000. BNP Paribas Financial Markets increased its position in shares of Aviat Networks by 96.5% during the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 1,120 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Aviat Networks during the first quarter worth approximately $53,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVNW has been the topic of a number of analyst reports. Citizens Jmp dropped their target price on Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Rafferty Capital Markets started coverage on Aviat Networks in a research report on Tuesday, June 30th. They set a “buy” rating and a $36.00 price target on the stock. Lake Street Capital set a $31.00 price objective on Aviat Networks and gave the company a “buy” rating in a report on Tuesday, May 5th. B. Riley Financial restated a “buy” rating and issued a $33.00 price objective (up from $28.00) on shares of Aviat Networks in a research report on Friday. Finally, Citigroup reissued a “market outperform” rating on shares of Aviat Networks in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Aviat Networks has a consensus rating of “Moderate Buy” and an average target price of $32.71.

Aviat Networks Company Profile

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company’s offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat’s core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.