Leuthold Group LLC Buys 57,266 Shares of NETGEAR, Inc. $NTGR

Leuthold Group LLC increased its stake in shares of NETGEAR, Inc. (NASDAQ:NTGR) by 56.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,432 shares of the communications equipment provider’s stock after acquiring an additional 57,266 shares during the quarter. Leuthold Group LLC owned approximately 0.56% of NETGEAR worth $3,911,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NTGR. Vanguard Group Inc. raised its holdings in NETGEAR by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 2,543,240 shares of the communications equipment provider’s stock worth $62,386,000 after buying an additional 74,457 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in NETGEAR by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,636,697 shares of the communications equipment provider’s stock worth $53,010,000 after buying an additional 85,228 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in NETGEAR by 17.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 808,805 shares of the communications equipment provider’s stock worth $26,197,000 after buying an additional 117,824 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in NETGEAR by 43.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 717,973 shares of the communications equipment provider’s stock worth $23,255,000 after buying an additional 218,347 shares during the last quarter. Finally, Tenzing Global Management LLC raised its holdings in NETGEAR by 4.3% during the second quarter. Tenzing Global Management LLC now owns 600,000 shares of the communications equipment provider’s stock worth $17,442,000 after buying an additional 25,000 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NTGR. Stifel Nicolaus set a $36.00 price objective on shares of NETGEAR in a report on Thursday, February 5th. Zacks Research upgraded shares of NETGEAR from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Wall Street Zen upgraded shares of NETGEAR from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of NETGEAR in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.00.

NETGEAR Price Performance

Shares of NTGR stock opened at $24.75 on Friday. The firm has a 50-day moving average of $23.80 and a 200-day moving average of $24.17. The company has a market cap of $664.29 million, a P/E ratio of -28.13 and a beta of 1.18. NETGEAR, Inc. has a one year low of $19.00 and a one year high of $36.86.

NETGEAR (NASDAQ:NTGR) last announced its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.14. The company had revenue of $158.82 million during the quarter, compared to the consensus estimate of $152.49 million. NETGEAR had a negative net margin of 3.58% and a negative return on equity of 2.71%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 earnings per share. As a group, research analysts expect that NETGEAR, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Activity at NETGEAR

In other news, insider Pramod Badjate sold 3,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $25.47, for a total value of $76,410.00. Following the completion of the sale, the insider owned 165,513 shares in the company, valued at $4,215,616.11. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.30% of the stock is currently owned by corporate insiders.

About NETGEAR

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.