Algert Global LLC Has $1.88 Million Position in Quantum Corporation (QTM)
Algert Global LLC decreased its position in shares of Quantum Corporation (NYSE:QTM) by 83.7% during the second quarter, Holdings Channel reports. The firm owned 240,527 shares of the technology company’s stock after selling 1,239,218 shares during the period. Algert Global LLC’s holdings in Quantum Corporation were worth $1,879,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio bought a new position in Quantum Corporation during the second quarter worth $113,000. Goldman Sachs Group Inc. raised its position in Quantum Corporation by 94.4% in the first quarter. Goldman Sachs Group Inc. now owns 700,507 shares of the technology company’s stock worth $609,000 after buying an additional 340,079 shares during the period. Lyon Street Capital LLC acquired a new stake in Quantum Corporation during the first quarter worth approximately $525,000. Schwab Charles Investment Management Inc. raised its stake in Quantum Corporation by 8.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 617,912 shares of the technology company’s stock worth $538,000 after buying an additional 50,616 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Quantum Corporation by 26.8% in the first quarter. Renaissance Technologies LLC now owns 8,026,252 shares of the technology company’s stock worth $6,983,000 after buying an additional 1,695,300 shares during the last quarter.
Shares of Quantum Corporation (NYSE:QTM) opened at 7.59 on Wednesday. The company has a market cap of $258.76 million, a price-to-earnings ratio of 70.28 and a beta of 2.34. Quantum Corporation has a 12-month low of $0.56 and a 12-month high of $9.20. The firm has a 50 day moving average price of $7.95 and a 200-day moving average price of $4.78.
Quantum Corporation (NYSE:QTM) last issued its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $120.80 million for the quarter, compared to the consensus estimate of $122.59 million. Quantum Corporation had a negative return on equity of 5.94% and a net margin of 0.62%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 earnings per share. On average, equities analysts expect that Quantum Corporation will post $0.63 earnings per share for the current fiscal year.
A number of analysts have commented on the company. Zacks Investment Research raised Quantum Corporation from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Tuesday, July 18th. BidaskClub lowered Quantum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th.
In other 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 transaction of $78,200.00. Following the transaction, the vice president now directly owns 158,344 shares of the company’s stock, valued at $1,238,250.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Robert S. Clark sold 61,912 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $8.16, for a total value of $505,201.92. Following the transaction, the senior vice president now directly owns 74,703 shares in the company, valued at $609,576.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,912 shares of company stock worth $727,222. Insiders own 8.55% of the company’s stock.
About Quantum Corporation
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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