Barrow Hanley Mewhinney & Strauss LLC Acquires 2,275,619 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 397,835.5% in the 4th quarter, HoldingsChannel reports. The fund owned 2,276,191 shares of the technology company’s stock after purchasing an additional 2,275,619 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Extreme Networks were worth $38,103,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in EXTR. Quarry LP bought a new stake in Extreme Networks during the 3rd quarter worth approximately $26,000. Byrne Asset Management LLC bought a new stake in Extreme Networks during the fourth quarter worth $30,000. Smartleaf Asset Management LLC raised its position in Extreme Networks by 385.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock valued at $37,000 after buying an additional 1,733 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Extreme Networks by 31.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after acquiring an additional 741 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Extreme Networks by 146.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock worth $83,000 after acquiring an additional 2,935 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Extreme Networks in a research report on Thursday, January 30th. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Lake Street Capital upped their target price on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $22.00 price target on shares of Extreme Networks in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the transaction, the chief executive officer now directly owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.70% of the stock is currently owned by insiders.

Extreme Networks Stock Down 5.3 %

Extreme Networks stock opened at $13.90 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34. The company has a market capitalization of $1.85 billion, a P/E ratio of -14.79, a P/E/G ratio of 3.06 and a beta of 1.72. The firm has a 50 day moving average price of $15.45 and a 200-day moving average price of $15.91. Extreme Networks, Inc. has a twelve month low of $10.50 and a twelve month high of $19.24.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. As a group, equities analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks declared that its board has approved a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.