Macquarie Group Ltd. acquired a new stake in Ceragon Networks Ltd. (NASDAQ:CRNT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 357,340 shares of the communications equipment provider’s stock, valued at approximately $743,000. Macquarie Group Ltd. owned approximately 0.46% of Ceragon Networks as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRNT. Spark Investment Management LLC bought a new stake in shares of Ceragon Networks in the 2nd quarter valued at $305,000. State of New Jersey Common Pension Fund D boosted its stake in Ceragon Networks by 64.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock worth $155,000 after purchasing an additional 23,880 shares during the period. Zweig DiMenna Associates LLC boosted its stake in Ceragon Networks by 46.6% in the 2nd quarter. Zweig DiMenna Associates LLC now owns 534,965 shares of the communications equipment provider’s stock worth $1,364,000 after purchasing an additional 169,965 shares during the period. Renaissance Group LLC boosted its stake in Ceragon Networks by 10.9% in the 2nd quarter. Renaissance Group LLC now owns 121,151 shares of the communications equipment provider’s stock worth $309,000 after purchasing an additional 11,940 shares during the period. Finally, BT Investment Management Ltd acquired a new position in Ceragon Networks in the 2nd quarter worth $506,000. Institutional investors and hedge funds own 16.11% of the company’s stock.

Ceragon Networks Ltd. (NASDAQ:CRNT) opened at $2.11 on Tuesday. The firm has a market cap of $168.13, a price-to-earnings ratio of 10.80 and a beta of 1.07. Ceragon Networks Ltd. has a one year low of $1.64 and a one year high of $4.23.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Monday, November 6th. The communications equipment provider reported $0.05 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.05. Ceragon Networks had a net margin of 5.06% and a return on equity of 12.60%. The firm had revenue of $75.99 million during the quarter, compared to analyst estimates of $78.22 million. During the same period in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities research analysts predict that Ceragon Networks Ltd. will post 0.18 EPS for the current year.

A number of brokerages recently weighed in on CRNT. Jefferies Group reaffirmed a “hold” rating and issued a $2.50 target price on shares of Ceragon Networks in a research note on Sunday, October 8th. ValuEngine raised shares of Ceragon Networks from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research lowered shares of 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 assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $2.50.

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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.

Institutional Ownership by Quarter for Ceragon Networks (NASDAQ:CRNT)

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