Mimecast Target of Unusually High Options Trading (NASDAQ:MIME)

Mimecast Limited (NASDAQ:MIME) saw some unusual options trading on Tuesday. Stock traders bought 814 put options on the stock. This represents an increase of 1,496% compared to the typical volume of 51 put options.

Several equities analysts recently issued reports on the company. Robert W. Baird reduced their price objective on Mimecast from $57.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 3rd. Summit Insights cut Mimecast from a “buy” rating to a “hold” rating in a research note on Wednesday, September 30th. BMO Capital Markets cut Mimecast from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $45.00 to $58.00 in a research note on Sunday, January 3rd. BidaskClub cut Mimecast from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Finally, TheStreet raised Mimecast from a “c” rating to a “b-” rating in a research report on Tuesday, December 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. Mimecast currently has a consensus rating of “Buy” and an average price target of $54.58.

In related news, insider John J. Walsh, Jr. sold 2,000 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $46.12, for a total transaction of $92,240.00. Following the transaction, the insider now directly owns 5,697 shares in the company, valued at $262,745.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Walsh, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, December 18th. The stock was sold at an average price of $54.50, for a total value of $817,500.00. Following the transaction, the insider now owns 18,697 shares in the company, valued at $1,018,986.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,500 shares of company stock valued at $13,011,630. Company insiders own 9.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its position in Mimecast by 4.4% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 14,363 shares of the technology company’s stock worth $674,000 after buying an additional 610 shares during the period. Bainco International Investors bought a new position in Mimecast in the 4th quarter worth approximately $46,000. LPL Financial LLC grew its holdings in shares of Mimecast by 13.6% during the 3rd quarter. LPL Financial LLC now owns 7,565 shares of the technology company’s stock worth $355,000 after purchasing an additional 905 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Mimecast during the 1st quarter worth approximately $49,000. Finally, Sei Investments Co. grew its holdings in shares of Mimecast by 4.0% during the 2nd quarter. Sei Investments Co. now owns 27,084 shares of the technology company’s stock worth $1,128,000 after purchasing an additional 1,052 shares in the last quarter. 70.02% of the stock is currently owned by institutional investors.

Shares of MIME stock traded up $1.22 during trading on Wednesday, reaching $45.59. The company had a trading volume of 99,150 shares, compared to its average volume of 1,132,757. The firm’s 50 day simple moving average is $50.85 and its two-hundred day simple moving average is $46.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.19 and a quick ratio of 1.19. Mimecast has a one year low of $25.14 and a one year high of $59.48. The company has a market capitalization of $2.91 billion, a PE ratio of 190.17, a PEG ratio of 5.30 and a beta of 1.31.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.12. Mimecast had a return on equity of 7.27% and a net margin of 3.44%. The business had revenue of $122.69 million for the quarter, compared to the consensus estimate of $121.19 million. During the same period last year, the business earned $0.13 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. Analysts forecast that Mimecast will post 0.29 earnings per share for the current year.

Mimecast Company Profile

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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