NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 1,180,000 shares, a decline of 25.8% from the May 15th total of 1,590,000 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 462,200 shares, the short-interest ratio is currently 2.6 days.
NetScout Systems Trading Down 0.4%
Shares of NTCT opened at $23.69 on Wednesday. NetScout Systems has a 12-month low of $17.67 and a 12-month high of $27.89. The firm has a market cap of $1.69 billion, a P/E ratio of -4.60 and a beta of 0.63. The company's 50-day moving average price is $22.09 and its 200 day moving average price is $22.16.
NetScout Systems (NASDAQ:NTCT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $204.99 million for the quarter, compared to analysts' expectations of $194.80 million. NetScout Systems had a positive return on equity of 7.37% and a negative net margin of 44.60%. The firm's revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. Equities research analysts forecast that NetScout Systems will post 1.5 earnings per share for the current year.
Insider Transactions at NetScout Systems
In other news, EVP John Downing sold 3,000 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $23.47, for a total transaction of $70,410.00. Following the transaction, the executive vice president now owns 127,352 shares of the company's stock, valued at approximately $2,988,951.44. The trade was a 2.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Szabados sold 7,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $22.77, for a total transaction of $170,775.00. Following the sale, the chief operating officer now owns 28,489 shares of the company's stock, valued at approximately $648,694.53. The trade was a 20.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock valued at $324,660 over the last ninety days. Insiders own 3.71% of the company's stock.
Institutional Investors Weigh In On NetScout Systems
A number of hedge funds have recently added to or reduced their stakes in NTCT. Russell Investments Group Ltd. increased its position in shares of NetScout Systems by 1,214.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,367 shares of the technology company's stock worth $30,000 after acquiring an additional 1,263 shares during the period. Ransom Advisory Ltd purchased a new stake in NetScout Systems during the 1st quarter worth about $34,000. Sterling Capital Management LLC raised its position in NetScout Systems by 811.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,216 shares of the technology company's stock valued at $48,000 after purchasing an additional 1,973 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of NetScout Systems in the 4th quarter valued at about $71,000. Finally, PNC Financial Services Group Inc. grew its position in shares of NetScout Systems by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company's stock worth $76,000 after buying an additional 508 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.
NetScout Systems Company Profile
(
Get Free Report)
NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.
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