Invicta Capital Management Dumps Its Entire Position in Ceragon Networks Ltd. (CRNT)

Invicta Capital Management, managed by Gregory A. Weaver, disclosed recently selling off its entire position in Ceragon Networks Ltd. (NASDAQ:CRNT). In its latest 13F, Invicta reported holding 2.8 million shares of the company. The reported value of the stake was about $11.8 million.

The fund has been holding a position in Ceragon Networks Ltd. (NASDAQ:CRNT) for over a year, before dumping it. The stock of the company declined by over 40% since the beginning of the year.

Ceragon Networks Ltd. (NASDAQ:CRNT) has conducted recently a public offering, under the terms of which it offered for sale 14 million shares of its common stock, the price amounting to $2.4 apiece. The net proceeds from the offering are expected to be around $31.4 million. For the third quarter of the year, Ceragon Networks Ltd. (NASDAQ:CRNT) reported a 21% fall in its revenues on the year, which totaled $92.1 million. The net loss of the company expanded to $10.4 million, or $0.28 per share, from $4.7 million in the same period of last year.

According to our database, Invicta has been one of the largest shareholders of Ceragon Networks Ltd. (NASDAQ:CRNT). Aside from it, Diker Management, managed by Mark N. Diker reported holding 2.1 million shares of the company, worth $8.7 million. Peter A. Wright’s P.a.w. Capital Partners, and Jim Simons’ Renaissance Technologies, also have been bullish on the company, although their stakes are less significant, containing 600,000 shares, and 238,300 shares respectively.

The largest holding in the equity portfolio of Invicta Capital is represented by Infoblox Inc (NYSE:BLOX), in which the fund disclosed a $28.2 million position, which amasses 675,000 shares. In Nova Measuring Instruments Ltd. (NASDAQ:NVMI), and KVH Industries, Inc. (NASDAQ:KVHI), Mr. Weaver’s fund reported ownership of 2.4 million shares and 1.5 million shares, the value of the positions amounting to $21.4 million, and $20.5 million respectively.

Disclosure: none

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