Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Aviat Networks Inc (AVNW), MGT Capital Investments Inc (MGT): Hedge Funds Disclose Latest Moves

Is it a good time to buy Aviat Networks Inc (NASDAQ:AVNW) shares? Warren Lichtenstein seems to think so, as he has recently boosted his stake in the company. According to a filing with the Securities and Exchange Commission (SEC), Lichtenstein and his fund, Steel Partners, have added 568,864 shares to their previous position, taking it to 7.17 million shares. The move took place in three transactions at prices varying between $1.74 and $1.8 apiece. In the mean time, Joshua Silverman’s activist endeavor is beginning to pay off. His fund, Iroquis Capital, has disclosed in a recent filing with the SEC that it has reached an agreement with the management of MGT Capital Investments Inc. (NYSEMKT:MGT) for Mr. Silverman to be nominated as Director at the company’s 2014 Annual Shareholders Meeting, scheduled for December 18, 2014. The fund has also disclosed the addition of 109,181 MGT Capital Investments Inc. (NYSEMKT:MGT) shares to its previous stake in the company, taking it to 1.04 million shares or 10.7% of the company’s common stock.


“We believe this agreement is in the best interests of the Company and our stockholders,” stated Mr. Ladd, Chief Executive Officer of MGT.

“We are pleased to have reached an amicable agreement with MGT and look forward to working constructively together with the Board and management team to help maximize value for all stockholders.  In addition to today’s agreement, Iroquois has agreed to buy $250,000 of common stock from the Company at a price of $1.00 per share as a further signal of our commitment and support,” added Joshua Silverman

Apart from the nomination of Silverman to MGT Capital Investments Inc. (NYSEMKT:MGT) ‘s Board of Directors, the company has also agreed to reimburse Iroquis Capital all expenses related to the 2014 Annual Shareholders Meeting, as long as the sum does not exceed $100,000. Form the hedge funds that we track, only Ken Griffin‘s Citadel Investment Group, has a stake in MGT Capital Investments Inc. (NYSEMKT:MGT), albeit a minor one: 17,336 shares valued at $18,000.

During the second quarter, Chuck Royce of Royce & Associates has slightly increased his investment in Aviat Networks Inc (NASDAQ:AVNW), taking it to approximately 3.09 million shares reportedly worth $3.95 million. Jim Simons is also optimistic about the prospects of the company and has upped his stake by 11% during the same period of time. In its latest 13F filing, Renaissance Technologies has reported ownership of 1.15 million shares valued at $1.47 million. Peter A. Wright is also keeping an eye on Aviat Networks Inc (NASDAQ:AVNW), with his fund, P.A.W. Capital Partners holding 1.78 million shares worth $2.27 million.

Disclosure: none.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.