B. Riley Asset Management LLC Takes $9.41 Million Position in Quantum Co. (NASDAQ:QMCO)

B. Riley Asset Management LLC bought a new stake in Quantum Co. (NASDAQ:QMCOGet Rating) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,704,376 shares of the company’s stock, valued at approximately $9,408,000. Quantum makes up 4.1% of B. Riley Asset Management LLC’s investment 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 SEC.

Several other institutional investors also recently modified their holdings of the company. Citigroup Inc. grew its position in shares of Quantum by 132.5% during the 4th quarter. Citigroup Inc. now owns 15,201 shares of the company’s stock valued at $84,000 after buying an additional 8,662 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Quantum by 91.6% during the 4th quarter. Panagora Asset Management Inc. now owns 149,535 shares of the company’s stock valued at $825,000 after buying an additional 71,506 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Quantum during the 4th quarter valued at about $73,000. Heartland Advisors Inc. grew its position in shares of Quantum by 6.3% during the 4th quarter. Heartland Advisors Inc. now owns 850,000 shares of the company’s stock valued at $4,692,000 after buying an additional 50,000 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Quantum by 207.0% during the 4th quarter. Bank of America Corp DE now owns 48,738 shares of the company’s stock valued at $269,000 after buying an additional 32,863 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.

In other Quantum news, insider Brian E. Cabrera sold 20,952 shares of the firm’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $1.88, for a total transaction of $39,389.76. Following the completion of the sale, the insider now owns 164,048 shares of the company’s stock, valued at $308,410.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.20% of the stock is owned by company insiders.

Several research analysts have commented on the stock. B. Riley cut shares of Quantum from a “buy” rating to a “neutral” rating and set a $4.00 target price for the company. in a research report on Thursday, February 10th. Zacks Investment Research upgraded shares of Quantum from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. Oppenheimer cut shares of Quantum from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 10th. Lake Street Capital decreased their target price on shares of Quantum from $9.00 to $6.00 in a research report on Thursday, February 10th. Finally, Northland Securities decreased their target price on shares of Quantum from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Monday, March 21st.

Shares of NASDAQ:QMCO traded up $0.10 during mid-day trading on Friday, hitting $1.66. The stock had a trading volume of 936,134 shares, compared to its average volume of 490,591. Quantum Co. has a 12-month low of $1.50 and a 12-month high of $9.35. The company has a market cap of $99.80 million, a PE ratio of -2.16 and a beta of 2.26. The company’s 50 day moving average is $2.19 and its 200-day moving average is $4.03.

Quantum (NASDAQ:QMCOGet Rating) last posted its earnings results on Wednesday, February 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The business had revenue of $95.34 million during the quarter, compared to the consensus estimate of $104.02 million. During the same period last year, the business posted ($0.07) earnings per share. As a group, equities research analysts anticipate that Quantum Co. will post -0.33 EPS for the current fiscal 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.

Read More

Want to see what other hedge funds are holding QMCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quantum Co. (NASDAQ:QMCOGet Rating).

Institutional Ownership by Quarter for Quantum (NASDAQ:QMCO)

Receive News & Ratings for Quantum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantum and related companies with MarketBeat.com's FREE daily email newsletter.