Analysts Set $3.50 Target Price for Qumu Corp (QUMU)

Qumu Corp (NASDAQ:QUMU) has been given an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokerages have set a 12 month consensus price objective of $3.50 for the company and are predicting that the company will post ($0.15) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Qumu an industry rank of 66 out of 265 based on the ratings given to related companies.

In other news, major shareholder Harbert Discovery Fund Gp, Llc purchased 156,709 shares of the stock in a transaction dated Friday, November 3rd. The shares were purchased at an average price of $2.44 per share, with a total value of $382,369.96. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Discovery Fund Lp Harbert purchased 51,618 shares of the stock in a transaction dated Wednesday, November 1st. The shares were purchased at an average cost of $2.46 per share, for a total transaction of $126,980.28. The disclosure for this purchase can be found here. In the last three months, insiders have bought 304,927 shares of company stock worth $746,800. Corporate insiders own 11.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of Qumu by 1.1% during the 1st quarter. Renaissance Technologies LLC now owns 642,100 shares of the technology company’s stock valued at $1,811,000 after acquiring an additional 6,741 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Qumu by 76.6% in the first quarter. Bank of New York Mellon Corp now owns 51,862 shares of the technology company’s stock valued at $146,000 after buying an additional 22,501 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Qumu by 9.6% in the second quarter. Northern Trust Corp now owns 35,745 shares of the technology company’s stock valued at $104,000 after buying an additional 3,144 shares during the last quarter. 23.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Qumu (NASDAQ QUMU) traded up $0.01 during mid-day trading on Friday, hitting $2.41. 27,150 shares of the stock traded hands, compared to its average volume of 30,689. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03. Qumu has a 1 year low of $1.80 and a 1 year high of $3.28.

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About Qumu

Qumu Corporation (Qumu) is an enterprise video content management software company. The Company is engaged in providing tools businesses need to create, manage, secure, deliver and measure their videos. The Company operates through the enterprise video content management software business segment. Its video content management software solutions allow organizations to create, capture, organize and deliver content across the extended enterprise to a range of end points, including mobile devices and thick or thin clients.

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