Fondren Management LP cut its position in shares of Quantum Corp (NYSE:QTM) by 92.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 225,000 shares of the technology company’s stock after selling 2,825,000 shares during the period. Quantum accounts for 0.9% of Fondren Management LP’s portfolio, making the stock its 21st largest holding. Fondren Management LP owned 0.65% of Quantum worth $1,267,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in QTM. PenderFund Capital Management Ltd. acquired a new position in shares of Quantum during the 4th quarter worth about $4,440,000. Alta Fundamental Advisers LLC increased its stake in shares of Quantum by 26.2% during the 4th quarter. Alta Fundamental Advisers LLC now owns 1,273,334 shares of the technology company’s stock worth $7,168,000 after purchasing an additional 264,000 shares during the last quarter. Systematic Financial Management LP acquired a new position in shares of Quantum during the 4th quarter worth about $1,342,000. Pacific Ridge Capital Partners LLC increased its stake in shares of Quantum by 30.8% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 882,753 shares of the technology company’s stock worth $4,970,000 after purchasing an additional 208,080 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Quantum during the 3rd quarter worth about $1,229,000. Institutional investors own 66.21% of the company’s stock.
Several analysts recently commented on QTM shares. ValuEngine raised shares of Quantum from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. Zacks Investment Research raised shares of Quantum from a “sell” rating to a “hold” rating in a report on Saturday, March 10th.
Shares of QTM stock remained flat at $$4.09 during mid-day trading on Wednesday. The stock had a trading volume of 135,353 shares, compared to its average volume of 341,914. The firm has a market cap of $144.94, a P/E ratio of -17.29 and a beta of 2.49. The company has a debt-to-equity ratio of -0.57, a quick ratio of 0.56 and a current ratio of 0.78. Quantum Corp has a 12 month low of $3.42 and a 12 month high of $9.20.
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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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