Aviat Networks Inc (NASDAQ:AVNW) was in 17 hedge funds’ portfolio at the end of the first quarter of 2013. AVNW investors should pay attention to a decrease in support from the world’s most elite money managers recently. There were 18 hedge funds in our database with AVNW positions at the end of the previous quarter.
In the eyes of most market participants, hedge funds are viewed as worthless, outdated financial tools of years past. While there are more than 8000 funds with their doors open today, we at Insider Monkey choose to focus on the aristocrats of this club, around 450 funds. It is widely believed that this group oversees most of the smart money’s total capital, and by keeping an eye on their best equity investments, we have come up with a number of investment strategies that have historically outstripped Mr. Market. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 23.3 percentage points in 8 months (explore the details and some picks here).
Now, it’s important to take a look at the key action encompassing Aviat Networks Inc (NASDAQ:AVNW).
How are hedge funds trading Aviat Networks Inc (NASDAQ:AVNW)?
Heading into Q2, a total of 17 of the hedge funds we track held long positions in this stock, a change of -6% from the previous quarter. With hedgies’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings significantly.
Of the funds we track, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital had the biggest position in Aviat Networks Inc (NASDAQ:AVNW), worth close to $10.6 million, comprising 0.6% of its total 13F portfolio. Coming in second is Chuck Royce of Royce & Associates, with a $8.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedge funds with similar optimism include Peter A. Wright’s P.A.W. CAPITAL PARTNERS, Clint Carlson’s Carlson Capital and Ken Gray and Steve Walsh’s Bryn Mawr Capital.
Seeing as Aviat Networks Inc (NASDAQ:AVNW) has experienced a declination in interest from the smart money, it’s safe to say that there was a specific group of hedgies that slashed their full holdings in Q1. At the top of the heap, Stuart Peterson’s Artis Capital Management sold off the biggest position of the “upper crust” of funds we key on, valued at close to $0.2 million in stock., and Ben Levine, Andrew Manuel and Stefan Renold of LMR Partners was right behind this move, as the fund dumped about $0.1 million worth. These transactions are interesting, as total hedge fund interest fell by 1 funds in Q1.
Insider trading activity in Aviat Networks Inc (NASDAQ:AVNW)
Insider purchases made by high-level executives is best served when the company in question has seen transactions within the past 180 days. Over the last 180-day time period, Aviat Networks Inc (NASDAQ:AVNW) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Aviat Networks Inc (NASDAQ:AVNW). These stocks are Symmetricom, Inc. (NASDAQ:SYMM), Numerex Corp. (NASDAQ:NMRX), ShoreTel, Inc. (NASDAQ:SHOR), KVH Industries, Inc. (NASDAQ:KVHI), and Mitel Networks Corporation (NASDAQ:MITL). This group of stocks belong to the communication equipment industry and their market caps are similar to AVNW’s market cap.
