Schonfeld Strategic Advisors LLC Takes Position in Quantum Co. (NASDAQ:QMCO)

Schonfeld Strategic Advisors LLC bought a new stake in Quantum Co. (NASDAQ:QMCO) in the fourth quarter, Holdings Channel.com reports. The firm bought 6,400 shares of the company’s stock, valued at approximately $345,000.

A number of other hedge funds have also recently modified their holdings of QMCO. SBI Securities Co. Ltd. purchased a new stake in shares of Quantum in the fourth quarter valued at about $194,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Quantum in the fourth quarter valued at about $226,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Quantum in the fourth quarter valued at about $272,000. Marshall Wace LLP purchased a new stake in shares of Quantum in the fourth quarter valued at about $334,000. Finally, LPL Financial LLC purchased a new stake in shares of Quantum in the fourth quarter valued at about $397,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Quantum Stock Down 5.6%

Shares of QMCO stock opened at $10.81 on Monday. The company has a 50-day moving average of $12.66 and a two-hundred day moving average of $18.97. Quantum Co. has a 1-year low of $2.22 and a 1-year high of $90.64.

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

Insiders Place Their Bets

In other news, CEO James J. Lerner sold 2,784 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $9.65, for a total value of $26,865.60. Following the completion of the transaction, the chief executive officer now owns 110,848 shares of the company’s stock, valued at approximately $1,069,683.20. This trade represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Pacific Investment Management sold 962,127 shares of the firm’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 transaction of $9,861,801.75. The disclosure for this sale can be found here. Insiders sold a total of 966,304 shares of company stock valued at $9,902,545 over the last 90 days. 4.50% of the stock is owned by company insiders.

Analyst Ratings Changes

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