Advisors Asset Management Inc. bought a new position in shares of Mimecast Ltd (NASDAQ:MIME) during the 2nd quarter, HoldingsChannel reports. The firm bought 9,946 shares of the technology company’s stock, valued at approximately $238,000.
Other large investors also recently bought and sold shares of the company. Sei Investments Co. lifted its position in shares of Mimecast by 72.3% during the first quarter. Sei Investments Co. now owns 3,473 shares of the technology company’s stock worth $123,000 after acquiring an additional 1,457 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Mimecast during the second quarter worth $215,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Mimecast during the first quarter worth $238,000. Macnealy Hoover Investment Management Inc. purchased a new stake in shares of Mimecast during the second quarter worth $247,000. Finally, Koch Industries Inc. purchased a new stake in shares of Mimecast during the first quarter worth $290,000. Hedge funds and other institutional investors own 68.04% of the company’s stock.
Several research firms have issued reports on MIME. BidaskClub downgraded Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded Mimecast from a “sell” rating to a “hold” rating in a research report on Thursday. Goldman Sachs Group upgraded Mimecast from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 20th. BMO Capital Markets dropped their target price on Mimecast from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. Finally, SunTrust Banks initiated coverage on shares of Mimecast in a report on Tuesday, September 18th. They issued a “buy” rating and a $54.00 price target on the stock. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $45.08.
Mimecast stock opened at $35.15 on Friday. The firm has a market capitalization of $2.50 billion, a PE ratio of -185.00 and a beta of 0.21. Mimecast Ltd has a fifty-two week low of $26.50 and a fifty-two week high of $46.87. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.52.
Mimecast (NASDAQ:MIME) last released its quarterly earnings results on Thursday, August 9th. The technology company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $78.40 million for the quarter, compared to analysts’ expectations of $76.71 million. Mimecast had a negative net margin of 5.55% and a negative return on equity of 11.41%. The business’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, sell-side analysts anticipate that Mimecast Ltd will post -0.13 earnings per share for the current year.
In related news, Director Hagi Schwartz sold 2,170 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $39.83, for a total value of $86,431.10. Following the transaction, the director now owns 2,082 shares of the company’s stock, valued at $82,926.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Neil Murray sold 25,000 shares of the stock in a transaction on Monday, September 24th. The shares were sold at an average price of $41.66, for a total value of $1,041,500.00. Following the completion of the transaction, the insider now directly owns 2,456,665 shares in the company, valued at approximately $102,344,663.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 305,726 shares of company stock worth $12,339,835. Insiders own 29.00% of the company’s stock.
Mimecast Company Profile
Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.
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