NETGEAR, Inc. (NASDAQ:NTGR) Stock Position Lifted by Picton Mahoney Asset Management

Picton Mahoney Asset Management lifted its holdings in NETGEAR, Inc. (NASDAQ:NTGR) by 4,835.7% in the 1st quarter, HoldingsChannel reports. The firm owned 162,878 shares of the communications equipment provider’s stock after purchasing an additional 159,578 shares during the quarter. Picton Mahoney Asset Management’s holdings in NETGEAR were worth $3,983,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of NETGEAR by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,332,316 shares of the communications equipment provider’s stock worth $37,132,000 after purchasing an additional 44,752 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in NETGEAR by 126.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 675,209 shares of the communications equipment provider’s stock valued at $18,818,000 after buying an additional 376,974 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in NETGEAR by 22.7% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 506,756 shares of the communications equipment provider’s stock valued at $14,123,000 after buying an additional 93,737 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in NETGEAR by 47.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 406,119 shares of the communications equipment provider’s stock valued at $11,319,000 after buying an additional 131,243 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in NETGEAR by 11.3% during the fourth quarter. Renaissance Technologies LLC now owns 325,055 shares of the communications equipment provider’s stock valued at $9,059,000 after buying an additional 33,100 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Buying and Selling

In other news, Director Laura Durr sold 4,387 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.39, for a total transaction of $124,546.93. Following the completion of the sale, the director directly owned 45,059 shares of the company’s stock, valued at $1,279,225.01. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Graeme Mclindin sold 2,377 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.38, for a total value of $67,459.26. Following the sale, the vice president directly owned 61,208 shares of the company’s stock, valued at approximately $1,737,083.04. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,671 shares of company stock valued at $565,429. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Wall Street Zen raised NETGEAR from a “hold” rating to a “buy” rating in a research note on Monday, May 5th.

NETGEAR Stock Down 1.7%

Shares of NTGR stock opened at $25.09 on Wednesday. The stock has a 50-day simple moving average of $28.65 and a 200 day simple moving average of $26.73. NETGEAR, Inc. has a fifty-two week low of $13.95 and a fifty-two week high of $31.55. The stock has a market capitalization of $722.09 million, a P/E ratio of 30.60 and a beta of 1.13.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, April 30th. The communications equipment provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.37. NETGEAR had a negative return on equity of 7.63% and a net margin of 3.72%. The business had revenue of $162.06 million during the quarter, compared to analysts’ expectations of $152.24 million. During the same quarter last year, the business posted ($0.28) earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that NETGEAR, Inc. will post -1.84 earnings per share for the current year.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.