NetScout Systems, Inc. (NTCT) Short Interest Down 23.7% in September

NetScout Systems, Inc. (NASDAQ:NTCT) was the target of a large drop in short interest in the month of September. As of September 28th, there was short interest totalling 7,595,988 shares, a drop of 23.7% from the September 14th total of 9,956,052 shares. Based on an average trading volume of 1,023,462 shares, the days-to-cover ratio is presently 7.4 days. Currently, 9.8% of the company’s stock are sold short.

In other news, Director Vincent J. Mullarkey sold 6,000 shares of NetScout Systems stock in a transaction on Monday, August 20th. The stock was sold at an average price of $25.43, for a total value of $152,580.00. Following the transaction, the director now directly owns 36,613 shares in the company, valued at approximately $931,068.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $26.96, for a total value of $134,800.00. Following the completion of the transaction, the insider now owns 38,616 shares in the company, valued at $1,041,087.36. The disclosure for this sale can be found here. Insiders sold a total of 40,466 shares of company stock worth $1,021,472 over the last quarter. Company insiders own 3.93% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Fox Run Management L.L.C. purchased a new stake in NetScout Systems during the 3rd quarter valued at about $364,000. Horrell Capital Management Inc. lifted its holdings in shares of NetScout Systems by 12.7% in the 3rd quarter. Horrell Capital Management Inc. now owns 213,001 shares of the technology company’s stock valued at $5,378,000 after buying an additional 24,001 shares during the period. Fondren Management LP acquired a new position in shares of NetScout Systems in the 2nd quarter valued at about $1,188,000. WINTON GROUP Ltd lifted its holdings in shares of NetScout Systems by 117.6% in the 2nd quarter. WINTON GROUP Ltd now owns 282,891 shares of the technology company’s stock valued at $8,402,000 after buying an additional 152,879 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of NetScout Systems by 201.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,784 shares of the technology company’s stock valued at $232,000 after buying an additional 5,198 shares during the period.

NetScout Systems stock opened at $21.93 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.90 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.86 and a beta of 1.30. NetScout Systems has a fifty-two week low of $21.58 and a fifty-two week high of $33.50.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, July 26th. The technology company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business had revenue of $205.11 million for the quarter, compared to the consensus estimate of $210.47 million. NetScout Systems had a return on equity of 3.79% and a net margin of 4.28%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. On average, research analysts forecast that NetScout Systems will post 0.88 earnings per share for the current year.

NTCT has been the topic of several research analyst reports. Piper Jaffray Companies set a $31.00 target price on NetScout Systems and gave the stock a “buy” rating in a research note on Monday, August 13th. ValuEngine upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, BidaskClub downgraded NetScout Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $28.33.

About NetScout Systems

NetScout Systems, Inc engages in the provision of application and network performance management solutions. Its integrated hardware and software solutions are used by commercial enterprises, governmental agencies, and telecommunication service providers. The company was founded by Anil K. Singhal and Narendra Popat in June 1984 and is headquartered in Westford, MA.

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