02 Nov Specialist Jonathan Cartu Announced – Horrell Capital Management Inc. Reduces Stock Position in…
Horrell Capital Management Inc. lessened its stake in shares of Extreme Networks, Inc (NASDAQ:EXTR) by 84.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,000 shares of the technology company’s stock after selling 275,000 shares during the period. Horrell Capital Management Inc.’s holdings in Extreme Networks were worth $364,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of EXTR. Ellington Management Group LLC grew its position in Extreme Networks by 7.5% during the 2nd quarter. Ellington Management Group LLC now owns 33,100 shares of the technology company’s stock worth $214,000 after acquiring an additional 2,300 shares during the last quarter. Bank of America Corp DE grew its position in Extreme Networks by 1.0% during the 2nd quarter. Bank of America Corp DE now owns 228,009 shares of the technology company’s stock worth $1,475,000 after acquiring an additional 2,324 shares during the last quarter. Tyers Asset Management LLC lifted its holdings in Extreme Networks by 28.8% during the 2nd quarter. Tyers Asset Management LLC now owns 13,792 shares of the technology company’s stock worth $89,000 after buying an additional 3,088 shares during the period. Riverhead Capital Management LLC lifted its holdings in Extreme Networks by 28.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 15,200 shares of the technology company’s stock worth $98,000 after buying an additional 3,400 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Extreme Networks by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 184,214 shares of the technology company’s stock worth $1,192,000 after buying an additional 4,096 shares during the period. Hedge funds and other institutional investors own 79.78% of the company’s stock.
Several research analysts have commented on EXTR shares. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday, October 8th. Lake Street Capital began coverage on Extreme Networks in a research note on Monday, July 29th. They issued a “buy” rating and a $9.00 price objective on the stock. BidaskClub downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, ValuEngine raised Extreme Networks from a “sell” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Extreme Networks presently has a consensus rating of “Buy” and an average price target of $10.00.
Shares of Extreme Networks stock opened at $6.52 on Friday. Extreme Networks, Inc has a one year low of $5.09 and a one year high of $8.59. The firm has a market capitalization of $835.64 million, a price-to-earnings ratio of 68.85 and a beta of 1.62. The business has a 50-day simple moving average of $7.30 and a 200 day simple moving average of $6.90. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.24 and a quick ratio of 1.06.
Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. The business had revenue of $255.51 million during the quarter, compared to analyst estimates of $253.26 million. Extreme Networks had a positive return on equity of 9.93% and a negative net margin of 5.39%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. On average, sell-side analysts expect that Extreme Networks, Inc will post 0.43 EPS for the current year.
In other Extreme Networks news, CRO Robert J. Gault sold 39,584 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $7.73, for a total transaction of $305,984.32. Following the completion of the sale, the executive now directly owns 294,797 shares of the company’s stock, valued at approximately $2,278,780.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.62% of the company’s stock.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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