Bowling Portfolio Management LLC purchased a new stake in Extreme Networks, Inc (NASDAQ:EXTR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 118,517 shares of the technology company’s stock, valued at approximately $873,000. Bowling Portfolio Management LLC owned approximately 0.10% of Extreme Networks at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Westwood Holdings Group Inc. acquired a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $65,000. Atria Investments LLC acquired a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $154,000. Ellington Management Group LLC boosted its stake in shares of Extreme Networks by 7.5% in the 2nd quarter. Ellington Management Group LLC now owns 33,100 shares of the technology company’s stock valued at $214,000 after purchasing an additional 2,300 shares in the last quarter. Paloma Partners Management Co boosted its stake in shares of Extreme Networks by 16.5% in the 2nd quarter. Paloma Partners Management Co now owns 33,402 shares of the technology company’s stock valued at $217,000 after purchasing an additional 4,727 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its stake in shares of Extreme Networks by 7.3% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 36,946 shares of the technology company’s stock valued at $269,000 after purchasing an additional 2,509 shares in the last quarter. Institutional investors own 80.99% of the company’s stock.
EXTR opened at $7.92 on Friday. The company’s 50 day moving average is $7.24 and its 200-day moving average is $7.15. Extreme Networks, Inc has a 1-year low of $5.37 and a 1-year high of $8.59. The company has a current ratio of 1.06, a quick ratio of 0.86 and a debt-to-equity ratio of 4.42. The company has a market cap of $962.81 million, a P/E ratio of 79.20 and a beta of 1.67.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. Extreme Networks had a negative net margin of 5.39% and a positive return on equity of 10.49%. The business had revenue of $255.51 million for the quarter, compared to the consensus estimate of $253.26 million. During the same period last year, the company earned $0.08 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that Extreme Networks, Inc will post 0.36 EPS for the current year.
EXTR has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Extreme Networks from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Zacks Investment Research downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BidaskClub upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Extreme Networks has a consensus rating of “Buy” and a consensus price target of $8.75.
Extreme Networks 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.
See Also: Cost of Goods Sold (COGS)
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