B. Riley Asset Management LLC purchased a new stake in Quantum Co. (NASDAQ:QMCO – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,704,376 shares of the company’s stock, valued at approximately $9,408,000. Quantum makes up about 4.1% of B. Riley Asset Management LLC’s portfolio, making the stock its 6th biggest position. B. Riley Asset Management LLC owned approximately 2.87% of Quantum as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently modified their holdings of the company. Citigroup Inc. increased 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 buying an additional 3,504 shares during the period. Nisa Investment Advisors LLC acquired a new position in Quantum in the 4th quarter valued at approximately $37,000. Diversified Trust Co acquired a new position in Quantum in the 4th quarter valued at approximately $63,000. ProShare Advisors LLC acquired a new position in Quantum in the 4th quarter valued at approximately $70,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Quantum in the 4th quarter valued at approximately $73,000. Institutional investors and hedge funds own 80.07% of the company’s stock.
Several research analysts have weighed in on the stock. Oppenheimer lowered shares of Quantum from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 10th. Zacks Investment Research upgraded shares of Quantum from a “sell” rating to a “hold” rating in a research note on Thursday, April 28th. Northland Securities dropped 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. B. Riley lowered 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. Finally, Lake Street Capital dropped their price target on shares of Quantum from $9.00 to $6.00 in a research note on Thursday, February 10th.
Shares of QMCO traded up $0.10 during mid-day trading on Friday, hitting $1.66. 936,134 shares of the company’s stock were exchanged, compared to its average volume of 490,591. Quantum Co. has a twelve month low of $1.50 and a twelve month high of $9.35. The firm has a fifty day moving average of $2.19 and a two-hundred day moving average of $4.03. The stock has a market cap of $99.80 million, a price-to-earnings ratio of -2.16 and a beta of 2.26.
Quantum (NASDAQ:QMCO – Get Rating) last posted its earnings results on Wednesday, February 9th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). The firm had revenue of $95.34 million during the quarter, compared to analyst estimates of $104.02 million. During the same quarter in the prior year, the business earned ($0.07) EPS. As a group, equities research analysts forecast that Quantum Co. will post -0.33 EPS for the current year.
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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