Harel Insurance Investments & Financial Services Ltd. Purchases 220,000 Shares of Ceragon Networks Ltd (CRNT)

Harel Insurance Investments & Financial Services Ltd. increased its holdings in Ceragon Networks Ltd (NASDAQ:CRNT) by 57.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,000 shares of the communications equipment provider’s stock after purchasing an additional 220,000 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Ceragon Networks were worth $2,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jane Street Group LLC lifted its holdings in Ceragon Networks by 221.1% in the 2nd quarter. Jane Street Group LLC now owns 50,518 shares of the communications equipment provider’s stock worth $180,000 after purchasing an additional 34,787 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ceragon Networks by 38.6% in the 1st quarter. JPMorgan Chase & Co. now owns 171,996 shares of the communications equipment provider’s stock worth $463,000 after purchasing an additional 47,910 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Ceragon Networks by 42.3% in the 2nd quarter. Macquarie Group Ltd. now owns 253,117 shares of the communications equipment provider’s stock worth $904,000 after purchasing an additional 75,277 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Ceragon Networks in the 2nd quarter worth approximately $279,000. Finally, BlackRock Inc. bought a new stake in Ceragon Networks in the 2nd quarter worth approximately $286,000. 22.49% of the stock is currently owned by institutional investors.

NASDAQ:CRNT traded down $0.06 during trading hours on Monday, reaching $3.24. The stock had a trading volume of 41,096 shares, compared to its average volume of 475,273. Ceragon Networks Ltd has a 52 week low of $1.64 and a 52 week high of $4.15. The company has a market cap of $257.86 million, a price-to-earnings ratio of 18.33, a PEG ratio of 1.57 and a beta of 0.61.



Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Monday, August 6th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. Ceragon Networks had a return on equity of 10.61% and a net margin of 4.79%. The business had revenue of $88.33 million for the quarter, compared to the consensus estimate of $86.61 million. On average, equities research analysts expect that Ceragon Networks Ltd will post 0.14 EPS for the current fiscal year.

A number of analysts have issued reports on the company. Zacks Investment Research raised Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. Citigroup raised Ceragon Networks from a “market perform” rating to an “outperform” rating and set a $4.50 price objective on the stock in a research note on Friday, September 28th. BidaskClub downgraded Ceragon Networks from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Oppenheimer raised Ceragon Networks from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research note on Friday, September 28th. Finally, CIBC raised Ceragon Networks from a “market perform” rating to an “outperform” rating in a research note on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $4.23.

Ceragon Networks Company Profile

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave radio technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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

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