Cowen Prime Services LLC Has $8.29 Million Position in Quotient Technology Inc. (QUOT)
Cowen Prime Services LLC increased its stake in shares of Quotient Technology Inc. (NYSE:QUOT) by 30.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 720,857 shares of the technology company’s stock after buying an additional 168,257 shares during the period. Quotient Technology accounts for 3.8% of Cowen Prime Services LLC’s investment portfolio, making the stock its 7th largest position. Cowen Prime Services LLC owned 0.80% of Quotient Technology worth $8,290,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in QUOT. Envestnet Asset Management Inc. increased its stake in Quotient Technology by 0.3% in the first quarter. Envestnet Asset Management Inc. now owns 20,203 shares of the technology company’s stock worth $193,000 after buying an additional 63 shares during the period. Principal Financial Group Inc. increased its stake in Quotient Technology by 4.0% in the first quarter. Principal Financial Group Inc. now owns 12,385 shares of the technology company’s stock worth $118,000 after buying an additional 474 shares during the period. Wrapmanager Inc. increased its stake in Quotient Technology by 3.8% in the second quarter. Wrapmanager Inc. now owns 16,838 shares of the technology company’s stock worth $194,000 after buying an additional 609 shares during the period. Wells Fargo & Company MN increased its stake 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 worth $472,000 after buying an additional 763 shares during the period. Finally, Suntrust Banks Inc. increased its stake in Quotient Technology by 3.5% in the first quarter. Suntrust Banks Inc. now owns 26,510 shares of the technology company’s stock worth $252,000 after buying an additional 898 shares during the period. Institutional investors own 69.74% of the company’s stock.
Quotient Technology Inc. (QUOT) opened at 14.20 on Friday. The firm’s market capitalization is $1.31 billion. The stock has a 50 day moving average price of $12.81 and a 200-day moving average price of $11.56. Quotient Technology Inc. has a 12-month low of $9.10 and a 12-month high of $14.75.
Quotient Technology (NYSE:QUOT) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $74.49 million for the quarter, compared to analysts’ expectations of $73.72 million. Quotient Technology had a negative net margin of 5.61% and a negative return on equity of 2.92%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. On average, equities research analysts forecast that Quotient Technology Inc. will post $0.25 EPS for the current year.
Quotient Technology announced that its Board of Directors has authorized a share buyback program on Tuesday, May 2nd that permits the company to buyback $50.00 million in shares. This buyback authorization permits the technology company to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
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Several brokerages recently issued reports on QUOT. BidaskClub raised Quotient Technology from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Maxim Group set a $15.00 price objective on Quotient Technology and gave the stock a “buy” rating in a report on Thursday, May 25th. TheStreet raised Quotient Technology from a “d+” rating to a “c-” rating in a report on Tuesday, August 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Quotient Technology in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Quotient Technology has a consensus rating of “Buy” and an average target price of $15.57.
In other Quotient Technology news, CEO Steven R. Boal sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $11.26, for a total transaction of $450,400.00. Following the transaction, the chief executive officer now owns 1,128,823 shares in the company, valued at approximately $12,710,546.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David E. Siminoff sold 8,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $11.42, for a total transaction of $91,360.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $34,260. The disclosure for this sale can be found here. Insiders have sold a total of 415,724 shares of company stock worth $5,129,746 over the last three months. 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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