Marathon Capital Management Lowers stake in Silver Spring Networks Inc (SSNI)

Silver Spring Networks Inc (SSNI) : Marathon Capital Management reduced its stake in Silver Spring Networks Inc by 1.57% during the most recent quarter end. The investment management company now holds a total of 331,785 shares of Silver Spring Networks Inc which is valued at $4,445,919 after selling 5,300 shares in Silver Spring Networks Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Silver Spring Networks Inc makes up approximately 2.32% of Marathon Capital Management’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in SSNI by selling 5,389 shares or 25.73% in the most recent quarter. The Hedge Fund company now holds 15,556 shares of SSNI which is valued at $208,450. Silver Spring Networks Inc makes up approx 0.02% of First Mercantile Trust Co’s portfolio.Royce Associates Lp boosted its stake in SSNI in the latest quarter, The investment management firm added 112,000 additional shares and now holds a total of 396,000 shares of Silver Spring Networks Inc which is valued at $5,274,720. Silver Spring Networks Inc makes up approx 0.03% of Royce Associates Lp’s portfolio. Gmt Capital Corp added SSNI to its portfolio by purchasing 149,700 company shares during the most recent quarter which is valued at $1,994,004. Silver Spring Networks Inc makes up approx 0.04% of Gmt Capital Corp’s portfolio. Gsa Capital Partners Llp added SSNI to its portfolio by purchasing 72,188 company shares during the most recent quarter which is valued at $952,160. Silver Spring Networks Inc makes up approx 0.05% of Gsa Capital Partners Llp’s portfolio.California State Teachers Retirement System boosted its stake in SSNI in the latest quarter, The investment management firm added 2,309 additional shares and now holds a total of 79,465 shares of Silver Spring Networks Inc which is valued at $961,527.

Silver Spring Networks Inc closed down -0.06 points or -0.44% at $13.67 with 1,98,841 shares getting traded on Friday. Post opening the session at $13.8, the shares hit an intraday low of $13.63 and an intraday high of $13.91 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Silver Spring Networks Inc reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.06. The company had revenue of $71.85 million for the quarter, compared to analysts expectations of $68.18 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on Silver Spring Networks Inc. Silver Spring Networks Inc was Upgraded by Raymond James to ” Strong Buy” on Jun 30, 2016.

Silver Spring Networks Inc. is engaged in creating building and deploying large scale networks and solutions enabling the Internet of things for critical infrastructure. The Company provides a networking platform and solutions. Its networking platform enables customers to communicate with devices connected to the power grid. Its networking platform comprises its hardware such as access points and relays its UtilOS network operating software and its GridScape management and security software. Its SilverLink Sensor Network helps customers use the data generated by devices on the network in order to provide insights for decision-making. Its solutions include advanced metering distribution automation demand-side management and street lights. Its services include professional services managed services and software as a service (SaaS) and customer support.

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