Mesirow Financial Investment Management Inc. Sells 2,666 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

Mesirow Financial Investment Management Inc. trimmed its holdings in Aviat Networks, Inc. (NASDAQ:AVNW) by 23.1% in the 1st quarter, Holdings Channel reports. The fund owned 8,855 shares of the communications equipment provider’s stock after selling 2,666 shares during the quarter. Aviat Networks accounts for about 1.7% of Mesirow Financial Investment Management Inc.’s investment portfolio, making the stock its 16th biggest position. Mesirow Financial Investment Management Inc.’s holdings in Aviat Networks were worth $340,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP increased its stake in Aviat Networks by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 267,334 shares of the communications equipment provider’s stock valued at $8,341,000 after purchasing an additional 2,967 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Aviat Networks by 30.4% in the fourth quarter. SG Americas Securities LLC now owns 6,218 shares of the communications equipment provider’s stock worth $203,000 after acquiring an additional 1,450 shares during the period. LVZ Inc. grew its stake in shares of Aviat Networks by 11.2% in the fourth quarter. LVZ Inc. now owns 8,268 shares of the communications equipment provider’s stock worth $270,000 after acquiring an additional 834 shares during the period. AlphaQ Advisors LLC bought a new stake in shares of Aviat Networks in the fourth quarter worth approximately $265,000. Finally, Watershed Asset Management L.L.C. grew its position in Aviat Networks by 9.9% during the fourth quarter. Watershed Asset Management L.L.C. now owns 9,346 shares of the communications equipment provider’s stock valued at $305,000 after buying an additional 841 shares during the period. 78.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AVNW shares. B. Riley dropped their target price on shares of Aviat Networks from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. StockNews.com upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research report on Friday, June 14th.

Aviat Networks Trading Up 1.3 %

Shares of NASDAQ AVNW traded up $0.35 during mid-day trading on Wednesday, reaching $28.04. The company had a trading volume of 40,745 shares, compared to its average volume of 100,104. The company has a current ratio of 2.12, a quick ratio of 1.79 and a debt-to-equity ratio of 0.18. Aviat Networks, Inc. has a 52 week low of $25.08 and a 52 week high of $38.85. The business’s 50-day moving average is $30.55 and its 200-day moving average is $32.55. The stock has a market cap of $352.18 million, a price-to-earnings ratio of 24.50 and a beta of 1.80.

Aviat Networks (NASDAQ:AVNW) last issued its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). Aviat Networks had a return on equity of 14.54% and a net margin of 3.54%. The business had revenue of $111.61 million for the quarter, compared to the consensus estimate of $113.56 million. During the same quarter in the previous year, the company earned $0.61 earnings per share. Equities analysts expect that Aviat Networks, Inc. will post 2.84 earnings per share for the current year.

Insider Activity

In other news, CEO Pete A. Smith purchased 1,000 shares of the stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $30.70 per share, for a total transaction of $30,700.00. Following the acquisition, the chief executive officer now owns 242,199 shares of the company’s stock, valued at $7,435,509.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.70% of the company’s stock.

Aviat Networks Company 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.