Quantum Co. (NASDAQ:QMCO) Major Shareholder Sells $9,861,801.75 in Stock

Quantum Co. (NASDAQ:QMCO) major shareholder Pacific Investment Management sold 962,127 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $10.25, for a total transaction of $9,861,801.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Quantum Stock Performance

QMCO traded down $0.08 on Thursday, reaching $10.32. The company’s stock had a trading volume of 296,654 shares, compared to its average volume of 1,176,723. Quantum Co. has a fifty-two week low of $2.22 and a fifty-two week high of $90.64. The stock has a 50 day moving average of $14.23 and a two-hundred day moving average of $17.93.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Quantum by 125,408.3% in the fourth quarter. Bank of America Corp DE now owns 75,305 shares of the company’s stock valued at $4,060,000 after acquiring an additional 75,245 shares during the period. UNICOM Systems Inc. purchased a new stake in Quantum in the 4th quarter valued at $4,057,000. Itau Unibanco Holding S.A. acquired a new stake in Quantum during the 4th quarter worth $3,020,000. Jane Street Group LLC purchased a new position in Quantum during the 4th quarter worth $1,812,000. Finally, Diametric Capital LP purchased a new position in Quantum during the 4th quarter worth $670,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Analysts Set New Price Targets

QMCO has been the subject of several recent research reports. Northland Securities raised their price target on shares of Quantum from $5.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Lake Street Capital raised their price objective on shares of Quantum from $5.00 to $20.00 and gave the company a “hold” rating in a report 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.