California State Teachers Retirement System bought a new stake in Quantum Corp (NYSE:QTM) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 49,600 shares of the technology company’s stock, valued at approximately $387,000. California State Teachers Retirement System owned 0.14% of Quantum at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Quantum by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 9,332,945 shares of the technology company’s stock valued at $8,120,000 after purchasing an additional 383,871 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Quantum by 94.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 700,507 shares of the technology company’s stock valued at $609,000 after purchasing an additional 340,079 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Quantum by 8.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 617,912 shares of the technology company’s stock valued at $538,000 after purchasing an additional 50,616 shares during the last quarter. State Street Corp boosted its stake in Quantum by 23.0% during the 2nd quarter. State Street Corp now owns 316,327 shares of the technology company’s stock valued at $2,473,000 after purchasing an additional 59,106 shares during the last quarter. Finally, AXA acquired a new position in Quantum during the 2nd quarter valued at about $1,267,000. Institutional investors own 66.13% of the company’s stock.
In other news, insider Jon W. Gacek sold 5,793 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $6.19, for a total value of $35,858.67. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.55% of the stock is owned by insiders.
Separately, Zacks Investment Research upgraded Quantum from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th.
Quantum Corp (QTM) traded down $0.21 during mid-day trading on Monday, reaching $5.08. The company’s stock had a trading volume of 450,000 shares, compared to its average volume of 305,768. 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 quarterly earnings results on Thursday, November 9th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.13). The company had revenue of $107.10 million for the quarter, compared to analyst estimates of $122.20 million. Quantum had a negative net margin of 1.77% and a negative return on equity of 7.26%. Quantum’s revenue for the quarter was down 20.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. analysts forecast that Quantum Corp will post 0.08 EPS for the current year.
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Quantum Company 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.
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