Barrow Hanley Mewhinney & Strauss LLC Has $38.10 Million Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 397,835.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,276,191 shares of the technology company's stock after buying an additional 2,275,619 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 1.71% of Extreme Networks worth $38,103,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LMR Partners LLP bought a new stake in shares of Extreme Networks in the fourth quarter worth $16,573,000. JPMorgan Chase & Co. grew its stake in shares of Extreme Networks by 312.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock worth $20,078,000 after purchasing an additional 908,336 shares during the last quarter. Penn Capital Management Company LLC bought a new stake in shares of Extreme Networks in the fourth quarter worth $14,229,000. Vanguard Group Inc. grew its stake in shares of Extreme Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 17,919,069 shares of the technology company's stock worth $299,965,000 after purchasing an additional 690,262 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Extreme Networks by 1,639.7% in the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock worth $10,474,000 after purchasing an additional 589,713 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $15.84 on Friday. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -16.85, a PEG ratio of 3.06 and a beta of 1.67. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. The firm's 50-day simple moving average is $13.56 and its 200 day simple moving average is $15.41.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The business had revenue of $284.51 million for the quarter, compared to analysts' expectations of $280.32 million. During the same quarter last year, the firm earned ($0.19) EPS. The firm's revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, research analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Extreme Networks announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a research report on Thursday, May 15th. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday. UBS Group cut their price target on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 price target on shares of Extreme Networks in a research report on Thursday, May 1st. Finally, Lake Street Capital cut their price target on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Extreme Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.58.

Insiders Place Their Bets

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $13.73, for a total value of $490,504.25. Following the sale, the chief executive officer now owns 1,510,719 shares of the company's stock, valued at approximately $20,742,171.87. The trade was a 2.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.70% of the company's stock.

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.

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