CSM Advisors LLC Acquires Shares of 2,067,775 Ceragon Networks Ltd. $CRNT

CSM Advisors LLC bought a new position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,067,775 shares of the communications equipment provider’s stock, valued at approximately $4,819,000. CSM Advisors LLC owned 2.33% of Ceragon Networks as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CRNT. Boothbay Fund Management LLC boosted its position in shares of Ceragon Networks by 48.6% in the 3rd quarter. Boothbay Fund Management LLC now owns 199,663 shares of the communications equipment provider’s stock worth $465,000 after purchasing an additional 65,299 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Ceragon Networks by 49.1% in the third quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 5,211 shares during the last quarter. WINTON GROUP Ltd increased its holdings in Ceragon Networks by 15.4% in the third quarter. WINTON GROUP Ltd now owns 87,967 shares of the communications equipment provider’s stock valued at $205,000 after purchasing an additional 11,726 shares during the last quarter. Private Advisor Group LLC acquired a new position in Ceragon Networks in the third quarter valued at about $2,247,000. Finally, Legato Capital Management LLC boosted its holdings in Ceragon Networks by 33.1% during the third quarter. Legato Capital Management LLC now owns 410,361 shares of the communications equipment provider’s stock worth $956,000 after buying an additional 102,077 shares during the last quarter. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

Shares of Ceragon Networks stock opened at $2.20 on Monday. The stock’s fifty day simple moving average is $2.28 and its 200 day simple moving average is $2.24. The company has a market capitalization of $195.65 million, a PE ratio of -110.00 and a beta of 1.20. Ceragon Networks Ltd. has a 12 month low of $1.82 and a 12 month high of $2.84.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. The business had revenue of $82.33 million during the quarter, compared to analyst estimates of $84.23 million. Analysts predict that Ceragon Networks Ltd. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CRNT has been the subject of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a research report on Monday, December 29th. Zacks Research lowered shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.50.

Ceragon Networks Profile

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.