Picton Mahoney Asset Management Has $7.23 Million Stake in NETGEAR, Inc. $NTGR

Picton Mahoney Asset Management reduced its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 15.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 223,204 shares of the communications equipment provider’s stock after selling 42,158 shares during the period. Picton Mahoney Asset Management owned 0.79% of NETGEAR worth $7,230,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its stake in shares of NETGEAR by 169.0% in the third quarter. Allianz Asset Management GmbH now owns 109,322 shares of the communications equipment provider’s stock worth $3,541,000 after acquiring an additional 68,683 shares during the period. Leuthold Group LLC bought a new position in NETGEAR during the 3rd quarter worth approximately $3,309,000. Arrowstreet Capital Limited Partnership lifted its position in shares of NETGEAR by 10.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 690,981 shares of the communications equipment provider’s stock worth $20,087,000 after purchasing an additional 63,398 shares during the period. Russell Investments Group Ltd. lifted its position in shares of NETGEAR by 77.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 122,703 shares of the communications equipment provider’s stock worth $3,538,000 after purchasing an additional 53,370 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of NETGEAR in the 2nd quarter valued at $1,744,000. Institutional investors own 82.97% of the company’s stock.

NETGEAR Price Performance

NTGR stock opened at $21.67 on Thursday. The company’s 50-day moving average is $21.95 and its 200-day moving average is $26.30. The stock has a market capitalization of $609.14 million, a PE ratio of -34.95 and a beta of 1.16. NETGEAR, Inc. has a 1 year low of $18.75 and a 1 year high of $36.86.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings results on Wednesday, February 4th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.21. The business had revenue of $182.47 million for the quarter, compared to the consensus estimate of $177.26 million. NETGEAR had a negative return on equity of 2.40% and a negative net margin of 2.56%.The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS. On average, analysts anticipate that NETGEAR, Inc. will post -1.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

NTGR has been the topic of several recent analyst reports. Zacks Research lowered shares of NETGEAR from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Wall Street Zen lowered NETGEAR from a “hold” rating to a “sell” rating in a research report on Sunday. Stifel Nicolaus set a $36.00 target price on NETGEAR in a research report on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of NETGEAR in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, NETGEAR currently has an average rating of “Hold” and a consensus target price of $36.00.

Insider Buying and Selling at NETGEAR

In related news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $20.97, for a total value of $62,910.00. Following the transaction, the insider directly owned 144,586 shares in the company, valued at $3,031,968.42. This trade represents a 2.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by insiders.

About NETGEAR

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.