Royce & Associates LP Invests $102,000 in Quantum Corporation (QTM)
Royce & Associates LP bought a new stake in Quantum Corporation (NYSE:QTM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,003 shares of the technology company’s stock, valued at approximately $102,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in shares of Quantum Corporation in the 2nd quarter valued at $113,000. Bank of New York Mellon Corp increased its position in shares of Quantum Corporation by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 609,341 shares of the technology company’s stock valued at $529,000 after acquiring an additional 19,157 shares during the period. Rhumbline Advisers acquired a new position in shares of Quantum Corporation in the 2nd quarter valued at $237,000. Schwab Charles Investment Management Inc. increased its position in shares of Quantum Corporation by 8.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 617,912 shares of the technology company’s stock valued at $538,000 after acquiring an additional 50,616 shares during the period. Finally, FMR LLC increased its position in shares of Quantum Corporation by 2.3% in the 1st quarter. FMR LLC now owns 3,490,385 shares of the technology company’s stock valued at $3,037,000 after acquiring an additional 79,720 shares during the period. 64.17% of the stock is currently owned by hedge funds and other institutional investors.
In other Quantum Corporation news, VP Shawn D. Hall sold 10,000 shares of Quantum Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $7.82, for a total value of $78,200.00. Following the transaction, the vice president now directly owns 158,344 shares in the company, valued at $1,238,250.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Fuad Ahmad sold 17,000 shares of Quantum Corporation stock in a transaction on Monday, July 17th. The shares were sold at an average price of $8.46, for a total transaction of $143,820.00. Following the completion of the transaction, the chief financial officer now owns 153,603 shares in the company, valued at $1,299,481.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,166 shares of company stock worth $794,619. 8.55% of the stock is currently owned by company insiders.
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Several equities analysts recently issued reports on the company. Lake Street Capital cut their target price on Quantum Corporation from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. BidaskClub downgraded Quantum Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded Quantum Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th.
Shares of Quantum Corporation (NYSE QTM) opened at 5.80 on Wednesday. The firm has a market capitalization of $199.94 million, a P/E ratio of 56.31 and a beta of 2.39. Quantum Corporation has a 12 month low of $4.86 and a 12 month high of $9.20. The firm’s 50-day moving average price is $5.94 and its 200 day moving average price is $5.91.
Quantum Corporation (NYSE:QTM) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Quantum Corporation had a net margin of 0.64% and a negative return on equity of 7.26%. The company had revenue of $116.86 million during the quarter, compared to analysts’ expectations of $119.40 million. Quantum Corporation’s revenue was up .5% compared to the same quarter last year. Analysts anticipate that Quantum Corporation will post $0.47 earnings per share for the current fiscal year.
Quantum Corporation Company Profile
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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