Park Avenue Securities LLC Acquires Shares of 10,876 Viavi Solutions Inc. (NASDAQ:VIAV)

Park Avenue Securities LLC acquired a new stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,876 shares of the communications equipment provider’s stock, valued at approximately $99,000.

A number of other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in shares of Viavi Solutions by 85.9% in the third quarter. Envestnet Asset Management Inc. now owns 713,641 shares of the communications equipment provider’s stock worth $6,523,000 after purchasing an additional 329,654 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of Viavi Solutions in the third quarter worth about $460,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Viavi Solutions by 1.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 3,126,549 shares of the communications equipment provider’s stock worth $28,577,000 after purchasing an additional 40,000 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Viavi Solutions by 4.4% in the third quarter. Earnest Partners LLC now owns 1,026,517 shares of the communications equipment provider’s stock worth $9,382,000 after purchasing an additional 43,176 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Viavi Solutions in the third quarter worth about $673,000. Institutional investors own 95.54% of the company’s stock.

Analysts Set New Price Targets

VIAV has been the subject of a number of research reports. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on shares of Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Friday, May 3rd. Susquehanna lowered shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Friday, May 3rd. Finally, Northland Securities upped their price objective on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.65.

Insider Buying and Selling

In related news, EVP Paul Mcnab sold 4,762 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $7.35, for a total value of $35,000.70. Following the transaction, the executive vice president now owns 49,777 shares in the company, valued at approximately $365,860.95. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 14,985 shares of company stock worth $109,969. 1.80% of the stock is owned by company insiders.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock opened at $6.98 on Wednesday. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.65. The company has a 50 day moving average price of $7.49 and a 200 day moving average price of $8.84. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $1.56 billion, a P/E ratio of -349.00 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The business had revenue of $246.00 million during the quarter, compared to analyst estimates of $249.08 million. During the same quarter last year, the company posted $0.02 EPS. Viavi Solutions’s quarterly revenue was down .7% compared to the same quarter last year. Sell-side analysts expect that Viavi Solutions Inc. will post 0.12 EPS for the current year.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.