NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report) was the target of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 1,180,000 shares, a decrease of 25.8% from the May 15th total of 1,590,000 shares. Based on an average trading volume of 462,200 shares, the short-interest ratio is currently 2.6 days. Currently, 1.7% of the company's shares are sold short.
Insider Activity at NetScout Systems
In other NetScout Systems news, EVP John Downing sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $23.47, for a total transaction of $70,410.00. Following the transaction, the executive vice president now directly owns 127,352 shares in the company, valued at approximately $2,988,951.44. This represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Szabados sold 7,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $22.77, for a total value of $170,775.00. Following the transaction, the chief operating officer now owns 28,489 shares in the company, valued at $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 worth $324,660 over the last ninety days. Insiders own 3.71% of the company's stock.
Hedge Funds Weigh In On NetScout Systems
Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised 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 purchasing an additional 1,263 shares during the period. Ransom Advisory Ltd purchased a new stake in NetScout Systems in the 1st quarter valued at $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 buying an additional 1,973 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in NetScout Systems in the 4th quarter valued at $71,000. Finally, PNC Financial Services Group Inc. raised its position in NetScout Systems by 17.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,495 shares of the technology company's stock valued at $76,000 after buying an additional 508 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.
NetScout Systems Stock Performance
Shares of NetScout Systems stock traded down $0.27 on Friday, reaching $23.59. 846,913 shares of the company's stock were exchanged, compared to its average volume of 473,892. The company has a market capitalization of $1.68 billion, a P/E ratio of -4.58 and a beta of 0.63. NetScout Systems has a 52 week low of $17.73 and a 52 week high of $27.89. The firm's 50-day moving average is $22.31 and its two-hundred day moving average is $22.19.
NetScout Systems (NASDAQ:NTCT - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. NetScout Systems had a positive return on equity of 7.37% and a negative net margin of 44.60%. The company had revenue of $204.99 million for the quarter, compared to analyst estimates of $194.80 million. During the same period in the prior year, the firm earned $0.55 earnings per share. NetScout Systems's revenue for the quarter was up .8% on a year-over-year basis. On average, analysts expect that NetScout Systems will post 1.5 EPS for the current fiscal year.
NetScout Systems Company Profile
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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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