New York State Common Retirement Fund Takes Position in Quantum Corporation (QTM)

New York State Common Retirement Fund bought a new stake in shares of Quantum Corporation (NYSE:QTM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,800 shares of the technology company’s stock, valued at approximately $233,000. New York State Common Retirement Fund owned approximately 0.09% of Quantum Corporation at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Royce & Associates LP purchased a new position in shares of Quantum Corporation during the 2nd quarter valued at approximately $102,000. Strs Ohio purchased a new stake in Quantum Corporation in the 2nd quarter worth $113,000. Rhumbline Advisers purchased a new stake in Quantum Corporation in the 2nd quarter worth $237,000. Teachers Advisors LLC purchased a new stake in Quantum Corporation in the 2nd quarter worth $391,000. Finally, Bank of New York Mellon Corp increased its holdings in Quantum Corporation by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 609,341 shares of the technology company’s stock worth $529,000 after acquiring an additional 19,157 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on QTM. BidaskClub raised shares of Quantum Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Lake Street Capital cut their price target on shares of Quantum Corporation from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of Quantum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, October 5th.

In related news, insider Jon W. Gacek sold 5,793 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $6.19, for a total value of $35,858.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.55% of the stock is currently owned by insiders.

Shares of Quantum Corporation (QTM) opened at $4.85 on Thursday. The company has a debt-to-equity ratio of -0.57, a current ratio of 0.78 and a quick ratio of 0.56. Quantum Corporation has a 1-year low of $4.11 and a 1-year high of $9.20.

Quantum Corporation (NYSE:QTM) last issued its quarterly earnings results on Thursday, November 9th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The company had revenue of $107.10 million during the quarter, compared to analysts’ expectations of $122.20 million. Quantum Corporation had a negative return on equity of 7.26% and a negative net margin of 1.77%. Quantum Corporation’s revenue was down 20.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. sell-side analysts forecast that Quantum Corporation will post 0.09 EPS for the current fiscal year.

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Quantum Corporation Profile

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.

Institutional Ownership by Quarter for Quantum Corporation (NYSE:QTM)

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