Qumu Corp (NASDAQ:QUMU) Major Shareholder Harbert Discovery Fund Gp, Llc Purchases 100,000 Shares

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Qumu Corp (NASDAQ:QUMU) major shareholder Harbert Discovery Fund Gp, Llc acquired 100,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was acquired at an average price of $2.50 per share, for a total transaction of $250,000.00. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of NASDAQ QUMU opened at $2.50 on Monday. The firm’s 50 day moving average price is $2.95 and its 200-day moving average price is $3.41. The company has a market cap of $33.10 million, a PE ratio of -2.60 and a beta of 0.27. Qumu Corp has a 52-week low of $1.85 and a 52-week high of $4.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.71 and a current ratio of 0.71.

Qumu (NASDAQ:QUMU) last issued its earnings results on Thursday, October 31st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.12. The firm had revenue of $6.67 million for the quarter. Qumu had a negative net margin of 18.14% and a negative return on equity of 68.24%. On average, analysts forecast that Qumu Corp will post -0.55 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Qumu from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. ValuEngine upgraded shares of Qumu from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Qumu in the second quarter worth approximately $55,000. BlackRock Inc. lifted its stake in shares of Qumu by 8.5% in the second quarter. BlackRock Inc. now owns 294,765 shares of the technology company’s stock worth $1,224,000 after buying an additional 23,021 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Qumu by 12.4% in the second quarter. Renaissance Technologies LLC now owns 765,371 shares of the technology company’s stock worth $3,176,000 after buying an additional 84,190 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Qumu in the third quarter worth approximately $302,000. Finally, Worth Venture Partners LLC bought a new position in shares of Qumu in the second quarter worth approximately $433,000. Hedge funds and other institutional investors own 35.29% of the company’s stock.

About Qumu

Qumu Corporation provides tools to create, manage, secure, distribute, and deliver live and on-demand video content for the enterprises. It offers an end-to-end video creation, management, and delivery solution through the sale of software licenses and hardware, software on server appliance, software-enabled devices, and a cloud-hosted software-as-a-service platform.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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