Quantum Corp (QTM) Shares Sold by California Public Employees Retirement System

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 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.

Institutional Ownership by Quarter for Quantum (NYSE:QTM)

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