Manatuck Hill Partners LLC Buys New Holdings in NETGEAR, Inc. $NTGR

Manatuck Hill Partners LLC acquired a new position in shares of NETGEAR, Inc. (NASDAQ:NTGR) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 160,000 shares of the communications equipment provider’s stock, valued at approximately $3,736,000. NETGEAR comprises approximately 1.2% of Manatuck Hill Partners LLC’s investment portfolio, making the stock its 25th largest position. Manatuck Hill Partners LLC owned about 0.59% of NETGEAR at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of NETGEAR during the second quarter worth about $82,799,000. Windward Management LP purchased a new stake in shares of NETGEAR during the fourth quarter worth approximately $35,468,000. Concentric Capital Strategies LP acquired a new stake in shares of NETGEAR in the 4th quarter worth $7,020,000. Lazard Asset Management LLC lifted its position in NETGEAR by 87.6% in the third quarter. Lazard Asset Management LLC now owns 548,911 shares of the communications equipment provider’s stock valued at $17,779,000 after purchasing an additional 256,266 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of NETGEAR by 77.8% in the first quarter. Renaissance Technologies LLC now owns 557,462 shares of the communications equipment provider’s stock valued at $12,175,000 after buying an additional 243,843 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.50.

Insider Activity at NETGEAR

In related news, Director Sarah Butterfass sold 2,704 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $26.90, for a total transaction of $72,737.60. Following the completion of the sale, the director owned 38,953 shares of the company’s stock, valued at approximately $1,047,835.70. This represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pramod Badjate sold 3,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $23.88, for a total transaction of $71,640.00. Following the completion of the sale, the insider directly owned 154,073 shares of the company’s stock, valued at $3,679,263.24. The trade was a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 12,085 shares of company stock valued at $313,933 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

NETGEAR Stock Performance

Shares of NTGR opened at $21.39 on Wednesday. NETGEAR, Inc. has a 1 year low of $19.00 and a 1 year high of $36.86. The company has a market capitalization of $581.38 million, a price-to-earnings ratio of -23.00 and a beta of 1.20. The company’s 50 day simple moving average is $23.08 and its 200 day simple moving average is $23.34.

NETGEAR (NASDAQ:NTGR) last announced its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. The business had revenue of $168.56 million during the quarter, compared to the consensus estimate of $157.80 million. NETGEAR had a negative return on equity of 2.79% and a negative net margin of 3.71%.The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. Equities analysts expect that NETGEAR, Inc. will post -0.52 EPS for the current fiscal year.

NETGEAR Company Profile

NETGEAR, Inc (NASDAQ: NTGR) is a global provider of networking solutions for consumer, business and service provider markets. The company designs, develops and markets a comprehensive portfolio of products that enable high-speed connectivity, data storage and network security for homes, small to medium-sized businesses and large enterprises.

Its product lineup includes Wi-Fi routers, mesh networking systems, cable modems, mobile broadband gateways and Ethernet switches—offered in both managed and unmanaged configurations.