Tieton Capital Management LLC Takes $1.28 Million Position in Aviat Networks, Inc. (NASDAQ:AVNW)

Tieton Capital Management LLC purchased a new stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 59,215 shares of the communications equipment provider’s stock, valued at approximately $1,281,000. Tieton Capital Management LLC owned approximately 0.47% of Aviat Networks at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AVNW. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Aviat Networks during the 3rd quarter worth about $598,000. Royce & Associates LP lifted its position in shares of Aviat Networks by 8.5% during the 3rd quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock worth $15,063,000 after purchasing an additional 54,339 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Aviat Networks by 183.9% during the 3rd quarter. GSA Capital Partners LLP now owns 19,826 shares of the communications equipment provider’s stock worth $429,000 after purchasing an additional 12,843 shares during the last quarter. Tectonic Advisors LLC lifted its position in shares of Aviat Networks by 8.6% during the 3rd quarter. Tectonic Advisors LLC now owns 59,621 shares of the communications equipment provider’s stock worth $1,290,000 after purchasing an additional 4,715 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Aviat Networks during the 3rd quarter worth about $589,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AVNW. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price target on shares of Aviat Networks in a report on Tuesday, October 8th. B. Riley cut their price target on Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 13th. Northland Securities cut their price target on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Roth Mkm cut their price target on Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Lake Street Capital dropped their target price on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.60.

Insider Buying and Selling

In related news, CFO Michael Connaway bought 3,500 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $14.13 per share, with a total value of $49,455.00. Following the purchase, the chief financial officer now owns 57,893 shares of the company’s stock, valued at approximately $818,028.09. This trade represents a 6.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Pete A. Smith bought 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $14.13 per share, for a total transaction of $42,390.00. Following the purchase, the chief executive officer now directly owns 298,539 shares in the company, valued at approximately $4,218,356.07. This represents a 1.02 % increase in their position. The disclosure for this purchase can be found here. 4.10% of the stock is owned by insiders.

Aviat Networks Trading Up 2.0 %

Shares of NASDAQ AVNW opened at $15.42 on Friday. The business has a 50-day moving average of $19.79 and a 200-day moving average of $25.61. 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, Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $38.85.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. The company had revenue of $116.66 million during the quarter. As a group, sell-side analysts anticipate that Aviat Networks, Inc. will post 1.13 EPS for the current fiscal year.

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.