PNC Financial Services Group Inc. Purchases Shares of 72,450 Mimecast Ltd. (MIME)
PNC Financial Services Group Inc. purchased a new position in shares of Mimecast Ltd. (NASDAQ:MIME) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 72,450 shares of the company’s stock, valued at approximately $725,000. PNC Financial Services Group Inc. owned approximately 0.13% of Mimecast at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of Mimecast during the first quarter valued at approximately $349,000. JPMorgan Chase & Co. raised its stake in shares of Mimecast by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 261,724 shares of the company’s stock valued at $2,546,000 after buying an additional 33,155 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Mimecast by 4.7% in the first quarter. Geode Capital Management LLC now owns 21,159 shares of the company’s stock valued at $205,000 after buying an additional 959 shares in the last quarter. Bogle Investment Management L P DE bought a new stake in shares of Mimecast during the first quarter valued at approximately $573,000. Finally, Barclays PLC raised its stake in shares of Mimecast by 70.2% in the first quarter. Barclays PLC now owns 29,100 shares of the company’s stock valued at $262,000 after buying an additional 12,000 shares in the last quarter. 30.66% of the stock is currently owned by institutional investors.
Mimecast Ltd. (NASDAQ:MIME) traded up 4.10% during trading on Tuesday, hitting $15.73. 198,084 shares of the stock traded hands. The firm has a 50-day moving average price of $15.14 and a 200 day moving average price of $10.83. Mimecast Ltd. has a 52-week low of $6.01 and a 52-week high of $18.15. The company’s market cap is $856.91 million.
Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. The firm had revenue of $41.46 million for the quarter, compared to analysts’ expectations of $39.85 million. During the same period last year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities analysts expect that Mimecast Ltd. will post $0.02 EPS for the current year.
Several brokerages have commented on MIME. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $20.00 price objective (up previously from $15.00) on shares of Mimecast in a research report on Thursday, September 1st. Zacks Investment Research raised shares of Mimecast from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday, August 12th. Barclays PLC lifted their price objective on shares of Mimecast from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Dougherty & Co lifted their price objective on shares of Mimecast from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mimecast in a research report on Thursday, June 23rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.93.
Mimecast Company Profile
Mimecast Limited is a United Kingdom-based business e-mail and data safety solutions provider. The Company offers solutions for e-mail security; archiving, risk and compliance; business continuity; migration, and employee productivity and mobility. Its products consist of Mimecast Secure Email Gateway, which is offered for spam and virus protection, content control and data leak prevention, targeted threat protection, file send, secure messaging, and advanced e-mail signature and disclaimer management; Mimecast Mailbox Continuity, which is offered for continuity services, and Mimecast Enterprise Information Archiving, which is offered for file archiving, legacy archive data management and Lync Instant messaging Archiving.
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