OxFORD Asset Management LLP lowered its holdings in Ceragon Networks Ltd (NASDAQ:CRNT) by 11.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,521 shares of the communications equipment provider’s stock after selling 56,439 shares during the quarter. OxFORD Asset Management LLP owned 0.56% of Ceragon Networks worth $911,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Ceragon Networks by 5.0% in the second quarter. Vanguard Group Inc. now owns 1,177,300 shares of the communications equipment provider’s stock valued at $3,002,000 after purchasing an additional 55,702 shares during the period. Zweig DiMenna Associates LLC raised its position in Ceragon Networks by 46.6% in the second quarter. Zweig DiMenna Associates LLC now owns 534,965 shares of the communications equipment provider’s stock valued at $1,364,000 after purchasing an additional 169,965 shares during the period. Systematic Financial Management LP raised its position in Ceragon Networks by 9.5% in the third quarter. Systematic Financial Management LP now owns 489,620 shares of the communications equipment provider’s stock valued at $1,018,000 after purchasing an additional 42,275 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Ceragon Networks by 6.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 406,991 shares of the communications equipment provider’s stock valued at $1,038,000 after purchasing an additional 23,616 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in shares of Ceragon Networks in the third quarter valued at $743,000. Institutional investors own 16.09% of the company’s stock.
A number of brokerages have recently weighed in on CRNT. ValuEngine raised Ceragon Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Jefferies Group reaffirmed a “hold” rating and issued a $2.50 price objective on shares of Ceragon Networks in a research note on Sunday, October 8th. Finally, Zacks Investment Research cut Ceragon Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Ceragon Networks currently has an average rating of “Hold” and an average price target of $2.50.
Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Monday, November 6th. The communications equipment provider reported $0.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. Ceragon Networks had a return on equity of 12.60% and a net margin of 5.06%. The firm had revenue of $75.99 million during the quarter, compared to analysts’ expectations of $78.22 million. During the same period in the previous year, the firm posted $0.06 EPS. Ceragon Networks’s revenue for the quarter was down 4.0% on a year-over-year basis. research analysts predict that Ceragon Networks Ltd will post 0.18 EPS for the current fiscal year.
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About Ceragon Networks
Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.
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