North Star Asset Management Inc. Has $4,648,000 Stake in NetScout Systems Inc. (NTCT)
North Star Asset Management Inc. held its position in NetScout Systems Inc. (NASDAQ:NTCT) during the second quarter, Holdings Channel reports. The firm owned 202,350 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in NetScout Systems were worth $4,648,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of NTCT. LS Investment Advisors LLC boosted its stake in shares of NetScout Systems by 64.8% in the second quarter. LS Investment Advisors LLC now owns 5,637 shares of the company’s stock worth $125,000 after buying an additional 2,216 shares in the last quarter. Strs Ohio boosted its stake in shares of NetScout Systems by 44.6% in the second quarter. Strs Ohio now owns 9,400 shares of the company’s stock worth $209,000 after buying an additional 2,900 shares in the last quarter. Virginia Retirement System acquired a new stake in shares of NetScout Systems during the first quarter worth about $264,000. Eachwin Capital LP acquired a new stake in shares of NetScout Systems during the first quarter worth about $356,000. Finally, Magnetar Financial LLC boosted its stake in shares of NetScout Systems by 30.4% in the first quarter. Magnetar Financial LLC now owns 16,904 shares of the company’s stock worth $388,000 after buying an additional 3,945 shares in the last quarter. 98.12% of the stock is currently owned by institutional investors and hedge funds.
NetScout Systems Inc. (NASDAQ:NTCT) traded up 0.28% during midday trading on Monday, hitting $28.82. 183,926 shares of the company traded hands. The company’s market capitalization is $2.65 billion. The stock’s 50-day moving average price is $29.21 and its 200 day moving average price is $25.27. NetScout Systems Inc. has a 12-month low of $18.77 and a 12-month high of $40.28.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. NetScout Systems had a negative net margin of 4.01% and a positive return on equity of 5.80%. The business had revenue of $269 million for the quarter, compared to analyst estimates of $273.47 million. During the same period last year, the business posted $0.33 earnings per share. The firm’s quarterly revenue was up 167.1% on a year-over-year basis. On average, equities analysts forecast that NetScout Systems Inc. will post $1.93 EPS for the current year.
A number of brokerages recently issued reports on NTCT. Pacific Crest reiterated a “buy” rating on shares of NetScout Systems in a report on Monday, September 12th. Zacks Investment Research upgraded shares of NetScout Systems from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Wednesday, September 28th. Finally, B. Riley restated a “buy” rating and set a $34.00 price target on shares of NetScout Systems in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $31.63.
In other NetScout Systems news, COO Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $27.64, for a total value of $138,200.00. Following the sale, the chief operating officer now directly owns 35,526 shares in the company, valued at approximately $981,938.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Downing sold 1,000 shares of NetScout Systems stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $27.48, for a total transaction of $27,480.00. Following the completion of the sale, the executive vice president now owns 100,989 shares in the company, valued at $2,775,177.72. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.
NetScout Systems Company Profile
NetScout Systems, Inc is a provider of network, application and service assurance solutions. The Company provides performance analytics that help enterprise, government and service provider customers manage service delivery and identify emerging performance problems. The Company designs, develops, manufactures, markets, licenses, sells and supports the products in hardware and software solutions that are used by commercial enterprises, governmental agencies and telecommunication service providers.
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