Waterfront Wealth Inc. Lowers Stock Holdings in Harmonic Inc. (NASDAQ:HLIT)

Waterfront Wealth Inc. lowered its stake in Harmonic Inc. (NASDAQ:HLIT) by 22.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,157 shares of the communications equipment provider’s stock after selling 18,659 shares during the period. Waterfront Wealth Inc. owned 0.06% of Harmonic worth $837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Captrust Financial Advisors boosted its holdings in Harmonic by 411.4% in the first quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 3,110 shares in the last quarter. Advisor Group Holdings Inc. grew its position in Harmonic by 80.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,271 shares of the communications equipment provider’s stock valued at $43,000 after purchasing an additional 1,459 shares during the last quarter. Belpointe Asset Management LLC increased its stake in Harmonic by 2,615.0% during the 1st quarter. Belpointe Asset Management LLC now owns 3,258 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 3,138 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Harmonic in the second quarter worth about $65,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Harmonic by 239.9% in the third quarter. Tower Research Capital LLC TRC now owns 7,178 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 5,066 shares in the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Raymond James lowered their price target on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Tuesday, January 30th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Harmonic in a report on Wednesday. TheStreet raised Harmonic from a “c” rating to a “b” rating in a research report on Monday, January 29th. Finally, Rosenblatt Securities reduced their price target on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Harmonic presently has an average rating of “Buy” and a consensus price target of $17.20.

Insiders Place Their Bets

In other news, SVP Neven Haltmayer sold 24,695 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total transaction of $285,968.10. Following the sale, the senior vice president now directly owns 181,864 shares in the company, valued at approximately $2,105,985.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Harmonic news, SVP Neven Haltmayer sold 24,695 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total transaction of $285,968.10. Following the sale, the senior vice president now directly owns 181,864 shares of the company’s stock, valued at $2,105,985.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the sale, the senior vice president now directly owns 302,214 shares of the company’s stock, valued at $3,901,582.74. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock valued at $1,917,122 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Harmonic Price Performance

NASDAQ HLIT traded down $0.02 on Thursday, reaching $10.01. The company had a trading volume of 96,391 shares, compared to its average volume of 1,922,753. The firm’s 50 day moving average price is $12.83 and its 200 day moving average price is $11.75. Harmonic Inc. has a 12 month low of $8.80 and a 12 month high of $18.43. The stock has a market capitalization of $1.12 billion, a PE ratio of 14.13 and a beta of 0.84. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.02.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $167.10 million for the quarter, compared to the consensus estimate of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 earnings per share. As a group, equities analysts predict that Harmonic Inc. will post 0.32 earnings per share for the current year.

Harmonic Company Profile

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.