Alpine Associates Management Inc. Invests $5.27 Million in SecureWorks Corp. (NASDAQ:SCWX)

Alpine Associates Management Inc. bought a new position in shares of SecureWorks Corp. (NASDAQ:SCWX) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 623,254 shares of the technology company’s stock, valued at approximately $5,273,000.

A number of other institutional investors have also made changes to their positions in the company. Royce & Associates LP lifted its position in shares of SecureWorks by 2.5% during the third quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock worth $11,722,000 after purchasing an additional 32,929 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in SecureWorks in the fourth quarter valued at $5,076,000. Scalar Gauge Management LLC raised its holdings in SecureWorks by 16.4% in the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after acquiring an additional 51,869 shares in the last quarter. Kovack Advisors Inc. raised its holdings in SecureWorks by 12.7% in the third quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock valued at $2,899,000 after acquiring an additional 36,816 shares in the last quarter. Finally, Brooktree Capital Management raised its holdings in SecureWorks by 9.9% in the third quarter. Brooktree Capital Management now owns 174,191 shares of the technology company’s stock valued at $1,542,000 after acquiring an additional 15,680 shares in the last quarter. 14.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of SecureWorks in a report on Saturday. They issued a “hold” rating on the stock.

SecureWorks Stock Performance

Shares of NASDAQ:SCWX opened at $8.51 on Friday. The stock has a market capitalization of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94. SecureWorks Corp. has a 1-year low of $5.61 and a 1-year high of $9.76. The company’s fifty day moving average is $8.48 and its two-hundred day moving average is $8.29.

SecureWorks (NASDAQ:SCWX) last issued its earnings results on Wednesday, December 4th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). SecureWorks had a negative return on equity of 5.71% and a negative net margin of 25.49%. Sell-side analysts expect that SecureWorks Corp. will post -0.29 EPS for the current fiscal year.

SecureWorks Profile

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions; managed security services; and professional services, including incident response and penetration testing services.