ValuEngine Upgrades Qumu (NASDAQ:QUMU) to “Hold”

Qumu (NASDAQ:QUMU) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Qumu from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st.

QUMU stock remained flat at $$2.51 during trading on Tuesday. 1 shares of the company were exchanged, compared to its average volume of 29,555. The business has a fifty day simple moving average of $2.59 and a 200-day simple moving average of $3.10. The firm has a market cap of $33.49 million, a P/E ratio of -2.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.71 and a current ratio of 0.71. Qumu has a one year low of $2.01 and a one year high of $4.78.

Qumu (NASDAQ:QUMU) last released its earnings results on Thursday, October 31st. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. Qumu had a negative net margin of 18.14% and a negative return on equity of 68.24%. The company had revenue of $6.67 million during the quarter. As a group, analysts expect that Qumu will post -0.55 earnings per share for the current year.

In other Qumu news, major shareholder Harbert Discovery Fund Gp, Llc bought 100,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was acquired at an average price of $2.50 per share, with a total value of $250,000.00. Also, CEO Vern Hanzlik bought 20,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were acquired at an average cost of $2.50 per share, with a total value of $50,000.00. Following the acquisition, the chief executive officer now directly owns 245,016 shares of the company’s stock, valued at $612,540. The disclosure for this purchase can be found here. Insiders have bought 136,000 shares of company stock valued at $340,000 in the last ninety days. Insiders own 23.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Qumu by 12.4% during the second quarter. Renaissance Technologies LLC now owns 765,371 shares of the technology company’s stock worth $3,176,000 after buying an additional 84,190 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Qumu by 8.5% in the second quarter. BlackRock Inc. now owns 294,765 shares of the technology company’s stock valued at $1,224,000 after purchasing an additional 23,021 shares during the period. Vanguard Group Inc. grew its holdings in shares of Qumu by 135.4% in the second quarter. Vanguard Group Inc. now owns 250,994 shares of the technology company’s stock valued at $1,042,000 after purchasing an additional 144,375 shares during the period. Worth Venture Partners LLC purchased a new stake in shares of Qumu in the second quarter valued at about $433,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Qumu in the third quarter valued at about $302,000. 26.98% of the stock is owned by institutional investors and hedge funds.

Qumu Company Profile

Qumu Corporation provides tools to create, manage, secure, distribute, and deliver live and on-demand video content for the enterprises. It offers an end-to-end video creation, management, and delivery solution through the sale of software licenses and hardware, software on server appliance, software-enabled devices, and a cloud-hosted software-as-a-service platform.

Further Reading: Understanding the different types of bonds

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Qumu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qumu and related companies with MarketBeat.com's FREE daily email newsletter.