Mesirow Financial Investment Management Inc. Cuts Stock Position in Extreme Networks, Inc. (NASDAQ:EXTR)

Mesirow Financial Investment Management Inc. lowered its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 25.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,081 shares of the technology company’s stock after selling 4,106 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Extreme Networks were worth $139,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EXTR. Pacer Advisors Inc. raised its stake in shares of Extreme Networks by 167,176.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after purchasing an additional 3,407,064 shares during the period. Norges Bank bought a new stake in shares of Extreme Networks during the 4th quarter valued at $33,267,000. Vanguard Group Inc. raised its stake in shares of Extreme Networks by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after purchasing an additional 1,877,727 shares during the period. Schroder Investment Management Group raised its stake in shares of Extreme Networks by 126.8% during the 3rd quarter. Schroder Investment Management Group now owns 1,400,467 shares of the technology company’s stock valued at $33,905,000 after purchasing an additional 782,969 shares during the period. Finally, Voss Capital LLC raised its stake in shares of Extreme Networks by 55.6% during the 4th quarter. Voss Capital LLC now owns 2,170,500 shares of the technology company’s stock valued at $38,288,000 after purchasing an additional 775,500 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Trading Down 1.0 %

Shares of Extreme Networks stock traded down $0.13 during trading on Wednesday, hitting $12.85. 528,759 shares of the stock traded hands, compared to its average volume of 2,238,042. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.61. The firm’s fifty day moving average is $11.69 and its 200-day moving average is $12.96. Extreme Networks, Inc. has a 52 week low of $10.49 and a 52 week high of $32.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.06). The firm had revenue of $211.04 million for the quarter, compared to the consensus estimate of $207.80 million. Extreme Networks had a negative net margin of 0.52% and a positive return on equity of 37.36%. As a group, equities research analysts predict that Extreme Networks, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

EXTR has been the topic of a number of analyst reports. Craig Hallum upgraded Extreme Networks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $14.00 in a research note on Thursday, May 16th. Rosenblatt Securities upgraded Extreme Networks from a “neutral” rating to a “buy” rating and upped their target price for the stock from $15.00 to $17.00 in a research note on Thursday, May 2nd. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Monday, June 10th. Finally, B. Riley upped their target price on Extreme Networks from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Extreme Networks presently has an average rating of “Moderate Buy” and an average target price of $18.25.

Extreme Networks Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.