Ellington Management Group adds NetGear (NTGR) to its portfolio

NetGear (NTGR) : Ellington Management Group added new position in NetGear during the most recent quarter end. The investment management firm now holds 7,700 shares of NetGear which is valued at $421,729 , the company said in a statement filed on Aug 15, 2016 with the SEC.NetGear makes up approximately 0.55% of Ellington Management Group’s portfolio.

Other Hedge Funds, Including , Boothbay Fund Management sold out all of its stake in NTGR during the most recent quarter. The investment firm sold 5,242 shares of NTGR which is valued $287,104.Aperio Group reduced its stake in NTGR by selling 376 shares or 4.24% in the most recent quarter. The Hedge Fund company now holds 8,495 shares of NTGR which is valued at $465,271.Tiaa Cref Investment Management boosted its stake in NTGR in the latest quarter, The investment management firm added 9,305 additional shares and now holds a total of 240,723 shares of NetGear which is valued at $13,184,399. NetGear makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio. Los Angeles Capital Management Equity Research Inc sold out all of its stake in NTGR during the most recent quarter. The investment firm sold 5,349 shares of NTGR which is valued $294,142.

NetGear opened for trading at $57.23 and hit $57.68 on the upside on Wednesday, eventually ending the session at $57.43, with a gain of 0.07% or 0.04 points. The heightened volatility saw the trading volume jump to 233,003 shares. Company has a market cap of $1,881 M.

On the company’s financial health, NetGear reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.60. The company had revenue of $311.66 million for the quarter, compared to analysts expectations of $298.80 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on NetGear. Company shares were Reiterated by BWS Financial on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 64 from a previous price target of $50 .Rosenblatt Downgraded NetGear on Jul 12, 2016 to ” Neutral”, Price Target of the shares are set at $47.50.Wunderlich Initiated NetGear on Jun 8, 2016 to “Buy”, Price Target of the shares are set at $55.

NETGEAR Inc. is a global networking company. The Company’s product line consists of devices such as network attached storage Internet protocol security cameras and home automation devices and services. The Company’s business is managed in three business segments: retail commercial and service provider. The retail business unit consists of home networking home video security storage and digital media products. The commercial business unit consists of business networking storage and security solutions. The service provider business unit consists of home networking hardware and software solutions as well as fourth-generation long term evolution hotspots sold to service providers. The Company has operations in Americas Europe Middle-East and Africa and Asia Pacific. It sells products through multiple sales channels including traditional retailers online retailers wholesale distributors direct market resellers value-added resellers and broadband service providers.

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