Today: The 105,594 Shares of Mimecast Ltd. (MIME) are sold by Kornitzer Capital Management Inc. KS

The 105,594 Shares of Mimecast Ltd. (MIME) are sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its position in shares of Mimecast Ltd. (NASDAQ:MIME) by 11.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 797,301 shares of the company’s stock after selling 105,594 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Mimecast were worth $7,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MIME. Geode Capital Management LLC boosted its stake in shares of Mimecast by 4.7% in the first quarter. Geode Capital Management LLC now owns 21,159 shares of the company’s stock worth $205,000 after buying an additional 959 shares during the last quarter. Barclays PLC boosted its stake in shares of Mimecast by 70.2% in the first quarter. Barclays PLC now owns 29,100 shares of the company’s stock worth $262,000 after buying an additional 12,000 shares during the last quarter. Bogle Investment Management L P DE acquired a new stake in shares of Mimecast during the first quarter worth approximately $573,000. Acadian Asset Management LLC boosted its stake in shares of Mimecast by 228.0% in the second quarter. Acadian Asset Management LLC now owns 117,820 shares of the company’s stock worth $1,178,000 after buying an additional 81,902 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Mimecast by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 261,724 shares of the company’s stock worth $2,546,000 after buying an additional 33,155 shares during the last quarter. Hedge funds and other institutional investors own 30.67% of the company’s stock.

Mimecast Ltd. (NASDAQ:MIME) traded down 0.42% during mid-day trading on Monday, reaching $18.82. 83,570 shares of the company’s stock traded hands. The stock has a 50 day moving average of $17.30 and a 200 day moving average of $11.91. Mimecast Ltd. has a 12-month low of $6.01 and a 12-month high of $20.10. The company’s market cap is $1.03 billion.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The company earned $41.46 million during the quarter, compared to the consensus estimate of $39.85 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The business’s revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts predict that Mimecast Ltd. will post $0.02 earnings per share for the current fiscal year.

A number of analysts recently commented on MIME shares. Barclays PLC upped their price target on shares of Mimecast from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Zacks Investment Research upgraded shares of Mimecast from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday, August 12th. JPMorgan Chase & Co. started coverage on shares of Mimecast in a research note on Friday. They set an “overweight” rating on the stock. Royal Bank Of Canada restated a “buy” rating on shares of Mimecast in a research note on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $15.00 price target on shares of Mimecast in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $16.79.

About Mimecast

Mimecast Limited is a United Kingdom-based business e-mail and data safety solutions provider. The Company offers solutions for e-mail security; archiving, risk and compliance; business continuity; migration, and employee productivity and mobility. Its products consist of Mimecast Secure Email Gateway, which is offered for spam and virus protection, content control and data leak prevention, targeted threat protection, file send, secure messaging, and advanced e-mail signature and disclaimer management; Mimecast Mailbox Continuity, which is offered for continuity services, and Mimecast Enterprise Information Archiving, which is offered for file archiving, legacy archive data management and Lync Instant messaging Archiving.

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