68,593 Shares in Quantum Corporation $QMCO Acquired by Man Group plc

Man Group plc bought a new position in shares of Quantum Corporation (NASDAQ:QMCO) during the second quarter, HoldingsChannel.com reports. The firm bought 68,593 shares of the company’s stock, valued at approximately $755,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QMCO. Bank of America Corp DE increased its position in shares of Quantum by 337.5% during the third quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after acquiring an additional 2,234 shares during the period. BNP Paribas Financial Markets boosted its holdings in Quantum by 322.1% in the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock valued at $34,000 after purchasing an additional 2,641 shares during the period. Raymond James Financial Inc. acquired a new position in Quantum during the 2nd quarter worth $46,000. Geode Capital Management LLC grew its stake in Quantum by 9.1% during the 2nd quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock worth $692,000 after purchasing an additional 5,806 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Quantum during the 4th quarter worth about $73,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Quantum Stock Performance

Shares of NASDAQ QMCO opened at $24.30 on Friday. The stock’s 50-day simple moving average is $15.24 and its 200-day simple moving average is $10.61. The firm has a market capitalization of $957.66 million, a PE ratio of -1.84 and a beta of 3.14. Quantum Corporation has a fifty-two week low of $4.19 and a fifty-two week high of $27.80.

Quantum (NASDAQ:QMCO) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.35. The business had revenue of $80.80 million during the quarter, compared to analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. On average, sell-side analysts forecast that Quantum Corporation will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on QMCO shares. Needham & Company LLC started coverage on Quantum in a research report on Wednesday, June 3rd. They issued a “buy” rating on the stock. Lake Street Capital restated a “buy” rating and set a $24.00 target price (up from $20.00) on shares of Quantum in a research note on Tuesday, August 11th. Northland Securities raised shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Quantum from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum in a research report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) is a technology company that develops and delivers data management and storage solutions for businesses and organizations worldwide. The company’s product portfolio includes hardware, software and cloud-based offerings designed to address backup, archive, primary storage and long-term retention needs. Quantum’s solutions are geared toward data-intensive environments such as media and entertainment, surveillance, government, education and healthcare, where large volumes of digital content must be reliably stored, managed and accessed.

Quantum’s flagship products include the StorNext® data management platform, which provides high-performance shared file storage and workflow acceleration, and the DXi® series of deduplication appliances, which optimize backup and recovery by reducing storage footprints and data transfer times.