Springowl Associates buys $1.2 Million stake in Extreme Networks Inc (EXTR)

Extreme Networks Inc (EXTR) : Springowl Associates scooped up 36,000 additional shares in Extreme Networks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 345,300 shares of Extreme Networks Inc which is valued at $1.2 Million.Extreme Networks Inc makes up approximately 9.91% of Springowl Associates’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates boosted its stake in EXTR in the latest quarter, The investment management firm added 25,940 additional shares and now holds a total of 793,688 shares of Extreme Networks Inc which is valued at $2.7 Million. Norges Bank sold out all of its stake in EXTR during the most recent quarter. The investment firm sold 895,663 shares of EXTR which is valued $3 Million.Blackrock Group Ltd boosted its stake in EXTR in the latest quarter, The investment management firm added 15,918 additional shares and now holds a total of 25,077 shares of Extreme Networks Inc which is valued at $84,760.Numeric Investors reduced its stake in EXTR by selling 205,557 shares or 38.63% in the most recent quarter. The Hedge Fund company now holds 326,600 shares of EXTR which is valued at $1.1 Million. Extreme Networks Inc makes up approx 0.01% of Numeric Investors’s portfolio.Stoneridge Investment Partners reduced its stake in EXTR by selling 89,142 shares or 53.19% in the most recent quarter. The Hedge Fund company now holds 78,434 shares of EXTR which is valued at $275,303. Extreme Networks Inc makes up approx 0.04% of Stoneridge Investment Partners’s portfolio.

Extreme Networks Inc closed down -0.05 points or -1.34% at $3.69 with 8,29,087 shares getting traded on Wednesday. Post opening the session at $3.74, the shares hit an intraday low of $3.64 and an intraday high of $3.8 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Extreme Networks Inc reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.02. The company had revenue of $125.30 million for the quarter, compared to analysts expectations of $122.81 million. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

Extreme Networks Inc. together with its subsidiaries is a provider of wired and wireless network infrastructure equipment software and services for enterprises data centers and service providers. The Company sells its products through an ecosystem of the Company channel partners who combine its Ethernet products with their offerings to create information technology solutions for end user customers. Its product categories include modular Ethernet switching systems stackable Ethernet switching systems high-density wireless fidelity (WiFi) centralized management software network access control (NAC) and bring your own device (BYOD) management application analytics and software-defined networking (SDN). The Company’s customers include businesses hospitals hotels universities sports venues telecommunications companies and government agencies around the world.

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