GSA Capital Partners LLP Increases Stock Holdings in Harmonic Inc. $HLIT

GSA Capital Partners LLP increased its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 72.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 158,583 shares of the communications equipment provider’s stock after acquiring an additional 66,634 shares during the quarter. GSA Capital Partners LLP’s holdings in Harmonic were worth $1,614,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in shares of Harmonic during the 3rd quarter worth approximately $1,236,000. Ellsworth Advisors LLC bought a new position in shares of Harmonic in the third quarter valued at approximately $5,104,000. Y Intercept Hong Kong Ltd increased its position in shares of Harmonic by 200.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 322,826 shares of the communications equipment provider’s stock valued at $3,057,000 after acquiring an additional 215,335 shares during the last quarter. Silverberg Bernstein Capital Management LLC lifted its holdings in Harmonic by 11.2% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 1,247,093 shares of the communications equipment provider’s stock worth $12,695,000 after acquiring an additional 125,795 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Harmonic during the second quarter worth $412,000. 99.38% of the stock is currently owned by institutional investors.

Harmonic Trading Up 0.7%

Shares of Harmonic stock opened at $10.75 on Wednesday. The stock has a market capitalization of $1.21 billion, a P/E ratio of 25.60 and a beta of 1.05. Harmonic Inc. has a 52-week low of $7.80 and a 52-week high of $11.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.08. The stock’s 50-day simple moving average is $10.11 and its 200 day simple moving average is $9.92.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $15.00 price objective on shares of Harmonic in a research note on Tuesday, December 9th. Rosenblatt Securities reissued a “buy” rating and issued a $14.00 price target on shares of Harmonic in a report on Thursday, February 12th. Barclays increased their price target on shares of Harmonic from $8.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Harmonic in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Harmonic currently has a consensus rating of “Hold” and an average price target of $13.33.

Insider Buying and Selling

In other Harmonic news, Director David Krall acquired 47,528 shares of Harmonic stock in a transaction that occurred on Thursday, December 11th. The stock was acquired at an average cost of $10.50 per share, for a total transaction of $499,044.00. Following the purchase, the director owned 223,125 shares of the company’s stock, valued at approximately $2,342,812.50. This represents a 27.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Neven Haltmayer sold 23,835 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $10.41, for a total transaction of $248,122.35. Following the sale, the senior vice president directly owned 149,570 shares in the company, valued at $1,557,023.70. The trade was a 13.75% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.21% of the company’s stock.

Harmonic Profile

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.