North Star Asset Management Inc. boosted its stake in shares of NetScout Systems Inc. (NASDAQ:NTCT) by 14.2% during the second quarter, Holdings Channel reports. The institutional investor owned 231,075 shares of the company’s stock after buying an additional 28,725 shares during the period. North Star Asset Management Inc.’s holdings in NetScout Systems were worth $5,141,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 valued at $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 valued at $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 valued at $264,000. Eachwin Capital LP purchased a new position in NetScout Systems during the first quarter valued at about $356,000. Finally, Magnetar Financial LLC raised its position in NetScout Systems by 30.4% in the first quarter. Magnetar Financial LLC now owns 16,904 shares of the company’s stock valued at $388,000 after buying an additional 3,945 shares during the last quarter. Institutional investors and hedge funds own 98.12% of the company’s stock.
NetScout Systems Inc. (NASDAQ:NTCT) traded up 0.92% on Friday, reaching $28.45. 359,734 shares of the company traded hands. The stock’s 50-day moving average is $29.10 and its 200-day moving average is $25.44. NetScout Systems Inc. has a 1-year low of $18.77 and a 1-year high of $40.28. The stock’s market capitalization is $2.62 billion.
NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, July 28th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $269 million for the quarter, compared to analysts’ expectations of $273.47 million. During the same period in the prior year, the business earned $0.33 EPS. The firm’s quarterly revenue was up 167.1% on a year-over-year basis. Equities research analysts expect that NetScout Systems Inc. will post $1.93 EPS for the current year.
Several research firms recently issued reports on NTCT. B. Riley restated a “buy” rating and issued a $34.00 target price on shares of NetScout Systems in a report on Wednesday, August 3rd. Pacific Crest restated a “buy” rating on shares of NetScout Systems in a report on Monday, September 12th. Finally, Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $31.63.
In other news, COO Michael Szabados sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction 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 the firm’s stock in a transaction dated 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. Company 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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