Quotient Technology Inc. (QUOT) Shares Bought by Granite Investment Partners LLC
Granite Investment Partners LLC raised its stake in Quotient Technology Inc. (NYSE:QUOT) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 1,519,918 shares of the technology company’s stock after buying an additional 38,807 shares during the period. Quotient Technology makes up approximately 1.2% of Granite Investment Partners LLC’s investment portfolio, making the stock its 11th largest position. Granite Investment Partners LLC’s holdings in Quotient Technology were worth $17,479,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in QUOT. Suntrust Banks Inc. increased its position in Quotient Technology by 3.5% in the first quarter. Suntrust Banks Inc. now owns 26,510 shares of the technology company’s stock valued at $252,000 after buying an additional 898 shares in the last quarter. Wrapmanager Inc. increased its position in Quotient Technology by 10.8% in the first quarter. Wrapmanager Inc. now owns 16,229 shares of the technology company’s stock valued at $155,000 after buying an additional 1,576 shares in the last quarter. OLD National Bancorp IN increased its position in Quotient Technology by 8.9% in the first quarter. OLD National Bancorp IN now owns 22,423 shares of the technology company’s stock valued at $214,000 after buying an additional 1,841 shares in the last quarter. Wells Fargo & Company MN increased its position in Quotient Technology by 1.6% in the first quarter. Wells Fargo & Company MN now owns 49,331 shares of the technology company’s stock valued at $472,000 after buying an additional 763 shares in the last quarter. Finally, Wesbanco Bank Inc. increased its position in Quotient Technology by 36.6% in the first quarter. Wesbanco Bank Inc. now owns 66,980 shares of the technology company’s stock valued at $640,000 after buying an additional 17,959 shares in the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.
Shares of Quotient Technology Inc. (NYSE QUOT) opened at 13.95 on Thursday. Quotient Technology Inc. has a 52 week low of $9.10 and a 52 week high of $14.36. The firm has a 50 day moving average price of $11.92 and a 200-day moving average price of $11.25. The firm’s market capitalization is $1.24 billion.
Quotient Technology (NYSE:QUOT) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. Quotient Technology had a negative return on equity of 2.92% and a negative net margin of 5.61%. The company had revenue of $74.49 million during the quarter, compared to analysts’ expectations of $73.72 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts predict that Quotient Technology Inc. will post $0.25 EPS for the current fiscal year.
Quotient Technology declared that its board has approved a stock buyback plan on Tuesday, May 2nd that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the technology company to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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Several research analysts recently commented on QUOT shares. Bank of America Corporation raised Quotient Technology from a “neutral” rating to a “buy” rating in a research note on Monday, April 17th. Maxim Group set a $15.00 price objective on Quotient Technology and gave the company a “buy” rating in a research note on Tuesday, April 25th. Wedbush reissued an “ourperform” rating and issued a $16.00 price objective on shares of Quotient Technology in a research note on Monday, July 31st. BidaskClub downgraded Quotient Technology from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, TheStreet downgraded Quotient Technology from a “c” rating to a “d+” rating in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Quotient Technology presently has a consensus rating of “Buy” and an average target price of $15.57.
In other news, Director Dawn G. Lepore sold 14,924 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $12.92, for a total value of $192,818.08. Following the completion of the transaction, the director now directly owns 85,873 shares of the company’s stock, valued at $1,109,479.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven R. Boal sold 160,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $12.64, for a total value of $2,022,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,823 shares of the company’s stock, valued at $12,245,922.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 515,724 shares of company stock valued at $6,086,752. Insiders own 11.99% of the company’s stock.
About Quotient Technology
Quotient Technology Inc is a provider of digital platform that enables consumer packaged goods (CPG) brands and retailers to engage shoppers through personalized and targeted promotions and media. Through the Company’s platform, CPGs and retailers are able to use online and in-store point-of-sale (POS) shopper data and analytics.
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