Schwab Charles Investment Management Inc. grew its holdings in shares of Quantum Corporation (NYSE:QTM) by 8.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 617,912 shares of the technology company’s stock after buying an additional 50,616 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 1.82% of Quantum Corporation worth $538,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in Quantum Corporation by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 609,341 shares of the technology company’s stock valued at $529,000 after buying an additional 19,157 shares during the last quarter. Nine Chapters Capital Management LLC grew its position in shares of Quantum Corporation by 39.2% during the 1st quarter. Nine Chapters Capital Management LLC now owns 157,600 shares of the technology company’s stock worth $137,000 after purchasing an additional 44,400 shares in the last quarter. FMR LLC grew its position in shares of Quantum Corporation by 2.3% during the 1st quarter. FMR LLC now owns 3,490,385 shares of the technology company’s stock worth $3,037,000 after purchasing an additional 79,720 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of Quantum Corporation by 2.0% during the 1st quarter. Neuberger Berman Group LLC now owns 6,033,887 shares of the technology company’s stock worth $5,249,000 after purchasing an additional 120,490 shares in the last quarter. Finally, Kennedy Capital Management Inc. grew its position in shares of Quantum Corporation by 18.2% during the 1st quarter. Kennedy Capital Management Inc. now owns 1,982,737 shares of the technology company’s stock worth $1,725,000 after purchasing an additional 304,844 shares in the last quarter. 64.17% of the stock is currently owned by institutional investors.
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In other Quantum Corporation news, VP Shawn D. Hall sold 10,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $7.82, for a total value of $78,200.00. Following the completion of the sale, the vice president now directly owns 158,344 shares in the company, valued at approximately $1,238,250.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jon W. Gacek sold 12,254 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $5.50, for a total value of $67,397.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,166 shares of company stock valued at $794,619. 8.55% of the stock is owned by corporate insiders.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Quantum Corporation from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Tuesday, July 18th. BidaskClub cut shares of Quantum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Lake Street Capital reduced their price target on shares of Quantum Corporation from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, August 10th.
Quantum Corporation (NYSE:QTM) opened at 5.74 on Thursday. The company has a market capitalization of $197.87 million, a price-to-earnings ratio of 55.73 and a beta of 2.39. Quantum Corporation has a 52-week low of $4.86 and a 52-week high of $9.20. The company’s 50 day moving average is $5.94 and its 200-day moving average is $5.91.
Quantum Corporation (NYSE:QTM) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). Quantum Corporation had a net margin of 0.64% and a negative return on equity of 7.26%. The firm had revenue of $116.86 million during the quarter, compared to analyst estimates of $119.40 million. Quantum Corporation’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts anticipate that Quantum Corporation will post $0.47 EPS for the current fiscal year.
Quantum Corporation Profile
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.
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