Jane Street Group LLC Has $3.75 Million Stock Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Jane Street Group LLC reduced its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 71.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 415,493 shares of the communications equipment provider’s stock after selling 1,034,277 shares during the period. Jane Street Group LLC’s holdings in Viavi Solutions were worth $3,748,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Viavi Solutions in the 3rd quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Viavi Solutions during the second quarter valued at approximately $38,000. Quarry LP raised its position in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 5,838 shares during the period. Summit Securities Group LLC acquired a new position in shares of Viavi Solutions during the second quarter worth approximately $52,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Viavi Solutions in the 2nd quarter worth $76,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VIAV. Morgan Stanley restated an “underweight” rating and set a $9.50 price target (up previously from $8.00) on shares of Viavi Solutions in a research note on Tuesday. UBS Group began coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 target price on the stock. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Monday. Northland Securities boosted their price objective on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.44.

Insider Buying and Selling

In other news, SVP Luke M. Scrivanich sold 2,802 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value of $29,224.86. Following the sale, the senior vice president now owns 54,517 shares of the company’s stock, valued at $568,612.31. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the transaction, the director now directly owns 213,514 shares of the company’s stock, valued at approximately $1,957,923.38. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,831 shares of company stock valued at $345,712. 1.52% of the stock is owned by company insiders.

Viavi Solutions Stock Down 3.5 %

VIAV stock opened at $10.15 on Thursday. The stock has a market cap of $2.25 billion, a P/E ratio of -59.70 and a beta of 0.92. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The stock’s fifty day simple moving average is $9.91 and its two-hundred day simple moving average is $8.59. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.49.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. Analysts expect that Viavi Solutions Inc. will post 0.19 EPS for the current year.

About Viavi Solutions

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.