Bridgeway Capital Management LLC Invests $444,000 in Quantum Co. (NASDAQ:QMCO)

Bridgeway Capital Management LLC acquired a new position in shares of Quantum Co. (NASDAQ:QMCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,240 shares of the company’s stock, valued at approximately $444,000.

Several other hedge funds have also made changes to their positions in the business. Bank of America Corp DE boosted its holdings in shares of Quantum by 125,408.3% during the fourth quarter. Bank of America Corp DE now owns 75,305 shares of the company’s stock worth $4,060,000 after purchasing an additional 75,245 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Quantum during the fourth quarter worth about $3,020,000. Jane Street Group LLC acquired a new position in shares of Quantum in the 4th quarter valued at about $1,812,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Quantum during the 4th quarter worth about $345,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Quantum during the 4th quarter worth about $272,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Insider Transactions at Quantum

In other news, CEO James J. Lerner sold 2,784 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $9.65, for a total value of $26,865.60. Following the completion of the sale, the chief executive officer now directly owns 110,848 shares in the company, valued at approximately $1,069,683.20. The trade was a 2.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Pacific Investment Management sold 962,127 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $10.25, for a total value of $9,861,801.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 966,304 shares of company stock valued at $9,902,545. 4.50% of the stock is currently owned by corporate insiders.

Quantum Trading Down 5.6%

Shares of QMCO stock opened at $10.81 on Monday. The company’s fifty day moving average price is $12.66 and its two-hundred day moving average price is $18.97. Quantum Co. has a 12 month low of $2.22 and a 12 month high of $90.64.

Quantum (NASDAQ:QMCO) last announced its earnings results on Wednesday, February 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). On average, analysts anticipate that Quantum Co. will post -5.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on QMCO shares. Northland Securities boosted their price objective on shares of Quantum from $5.00 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Lake Street Capital upped their target price on Quantum from $5.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th.

About Quantum

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 Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.