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

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

In other Mimecast news, insider John J. Walsh, Jr. sold 15,000 shares of the company’s stock in a transaction dated Friday, December 18th. The shares were sold at an average price of $54.50, for a total transaction of $817,500.00. Following the transaction, the insider now directly owns 18,697 shares in the company, valued at approximately $1,018,986.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Peter Bauer sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 7th. The shares were sold at an average price of $49.79, for a total transaction of $373,425.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 266,500 shares of company stock worth $12,919,390. Corporate insiders own 9.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Bainco International Investors bought a new position in shares of Mimecast during the 4th quarter worth approximately $46,000. Marshall Wace LLP bought a new position in shares of Mimecast during the 1st quarter worth approximately $49,000. Point72 Hong Kong Ltd bought a new position in shares of Mimecast during the 2nd quarter worth approximately $52,000. Nisa Investment Advisors LLC bought a new position in shares of Mimecast during the 3rd quarter worth approximately $68,000. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of Mimecast by 241.1% in the 2nd quarter. Advisor Group Holdings Inc. now owns 3,380 shares of the technology company’s stock valued at $140,000 after buying an additional 2,389 shares during the last quarter. 70.02% of the stock is owned by institutional investors.

Shares of MIME opened at $45.59 on Thursday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 189.94, a P/E/G ratio of 5.30 and a beta of 1.31. Mimecast has a twelve month low of $25.14 and a twelve month high of $59.48. The company has a 50 day moving average of $50.90 and a 200-day moving average of $46.13. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.34.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, November 2nd. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.12. The company had revenue of $122.69 million during the quarter, compared to analysts’ expectations of $121.19 million. Mimecast had a net margin of 3.44% and a return on equity of 7.27%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. On average, sell-side analysts anticipate that Mimecast will post 0.29 earnings per share for the current fiscal year.

A number of analysts have recently commented on MIME shares. BidaskClub cut Mimecast from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Jefferies Financial Group cut Mimecast from a “buy” rating to a “hold” rating and upped their price target for the company from $50.00 to $55.00 in a research note on Monday. TheStreet raised Mimecast from a “c” rating to a “b-” rating in a research note on Tuesday, December 22nd. BMO Capital Markets cut Mimecast from an “outperform” rating to a “market perform” rating and upped their price target for the company from $45.00 to $58.00 in a research note on Sunday, January 3rd. Finally, Summit Insights cut Mimecast from a “buy” rating to a “hold” rating in a research note on Wednesday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $54.58.

About Mimecast

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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