Mesirow Financial Investment Management Inc. Sells 4,400 Shares of Harmonic Inc. (NASDAQ:HLIT)

Mesirow Financial Investment Management Inc. lessened its position in shares of Harmonic Inc. (NASDAQ:HLIT) by 18.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,977 shares of the communications equipment provider’s stock after selling 4,400 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Harmonic were worth $291,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in HLIT. Jane Street Group LLC boosted its stake in Harmonic by 1,276.3% in the first quarter. Jane Street Group LLC now owns 1,203,297 shares of the communications equipment provider’s stock valued at $16,172,000 after acquiring an additional 1,115,870 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Harmonic by 216.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 545,495 shares of the communications equipment provider’s stock worth $6,420,000 after purchasing an additional 373,155 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Harmonic by 24.0% in the 1st quarter. Russell Investments Group Ltd. now owns 290,842 shares of the communications equipment provider’s stock worth $3,909,000 after purchasing an additional 56,269 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Harmonic in the first quarter valued at about $8,295,000. Finally, Intech Investment Management LLC bought a new stake in Harmonic in the second quarter valued at about $444,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Trading Up 0.3 %

NASDAQ:HLIT opened at $12.58 on Wednesday. The company has a market cap of $1.47 billion, a P/E ratio of 17.23 and a beta of 0.89. Harmonic Inc. has a twelve month low of $9.10 and a twelve month high of $15.46. The business has a 50 day moving average price of $13.49 and a two-hundred day moving average price of $12.72. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 53.9% compared to the same quarter last year. As a group, analysts expect that Harmonic Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HLIT shares. Barclays cut their price target on shares of Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Rosenblatt Securities cut their target price on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Northland Securities reduced their price target on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group cut shares of Harmonic from a “buy” rating to a “hold” rating and lowered their price objective for the company from $14.00 to $12.50 in a research report on Tuesday, October 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Harmonic in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Harmonic has an average rating of “Moderate Buy” and a consensus price target of $15.25.

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.