B. Riley Asset Management LLC purchased a new position in shares of Quantum Co. (NASDAQ:QMCO – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,704,376 shares of the company’s stock, valued at approximately $9,408,000. Quantum makes up approximately 4.1% of B. Riley Asset Management LLC’s portfolio, making the stock its 6th biggest position.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in Quantum by 115.5% in the 3rd quarter. Citigroup Inc. now owns 6,539 shares of the company’s stock valued at $34,000 after acquiring an additional 3,504 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Quantum in the 4th quarter valued at about $37,000. Diversified Trust Co acquired a new stake in Quantum in the 4th quarter valued at about $63,000. ProShare Advisors LLC acquired a new stake in Quantum in the 4th quarter valued at about $70,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Quantum in the 4th quarter valued at about $73,000. Institutional investors and hedge funds own 80.07% of the company’s stock.
In other news, insider Brian E. Cabrera sold 20,952 shares of the stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $1.88, for a total transaction of $39,389.76. Following the transaction, the insider now directly owns 164,048 shares in the company, valued at approximately $308,410.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.20% of the company’s stock.
Quantum (NASDAQ:QMCO – Get Rating) last announced its quarterly earnings data on Wednesday, February 9th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The firm had revenue of $95.34 million for the quarter, compared to analyst estimates of $104.02 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. As a group, equities research analysts expect that Quantum Co. will post -0.33 earnings per share for the current year.
A number of brokerages recently commented on QMCO. Zacks Investment Research raised shares of Quantum from a “sell” rating to a “hold” rating in a research note on Thursday, April 28th. B. Riley cut shares of Quantum from a “buy” rating to a “neutral” rating and set a $4.00 price target on the stock. in a research note on Thursday, February 10th. Northland Securities decreased their price target on shares of Quantum from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, March 21st. Oppenheimer cut shares of Quantum from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 10th. Finally, Lake Street Capital decreased their price target on shares of Quantum from $9.00 to $6.00 in a research note on Thursday, February 10th.
About Quantum (Get Rating)
Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers StorNext software systems that enable high-speed ingest, editing, processing, and management of digital video and image datasets; and Scalar tape systems that provide long-term data storage facility to archive and preserve digital content for decades.
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