California Public Employees Retirement System lowered its stake in shares of Quantum Corp (NYSE:QTM) by 87.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,162 shares of the technology company’s stock after selling 582,138 shares during the period. California Public Employees Retirement System owned about 0.24% of Quantum worth $649,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of QTM. Royce & Associates LP purchased a new stake in Quantum during the 2nd quarter worth approximately $102,000. Strs Ohio purchased a new stake in shares of Quantum in the 2nd quarter valued at approximately $113,000. New York State Common Retirement Fund purchased a new stake in shares of Quantum in the 2nd quarter valued at approximately $233,000. Rhumbline Advisers acquired a new stake in Quantum during the 2nd quarter worth $237,000. Finally, Teachers Advisors LLC acquired a new stake in shares of Quantum in the 2nd quarter worth $391,000. Hedge funds and other institutional investors own 66.13% of the company’s stock.
Several research firms have recently commented on QTM. Lake Street Capital lowered their price target on shares of Quantum from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Zacks Investment Research cut shares of Quantum from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, BidaskClub cut shares of Quantum from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th.
In other news, insider Jon W. Gacek sold 5,793 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $6.19, for a total transaction of $35,858.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.55% of the company’s stock.
Shares of Quantum Corp (NYSE:QTM) traded down $0.43 during trading hours on Monday, hitting $5.19. 697,448 shares of the company were exchanged, compared to its average volume of 303,580. The company has a debt-to-equity ratio of -0.57, a current ratio of 0.78 and a quick ratio of 0.56. Quantum Corp has a fifty-two week low of $4.11 and a fifty-two week high of $9.20.
Quantum (NYSE:QTM) last released its earnings results on Thursday, November 9th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.13). Quantum had a negative net margin of 1.77% and a negative return on equity of 7.26%. The business had revenue of $107.10 million for the quarter, compared to the consensus estimate of $122.20 million. During the same quarter in the previous year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was down 20.5% on a year-over-year basis. equities research analysts predict that Quantum Corp will post 0.09 earnings per share for the current year.
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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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