Zacks: Brokerages Set $3.50 Price Target for Qumu Corp (QUMU)

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

Analysts have set a twelve-month consensus target price of $3.50 for the company and are expecting that the company will post ($0.15) EPS for the current quarter, according to Zacks. Zacks has also given Qumu an industry rank of 37 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised shares of Qumu from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research note on Thursday.

In other Qumu news, major shareholder Discovery Fund Lp Harbert acquired 87,300 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $2.46 per share, with a total value of $214,758.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Harbert Discovery Fund Gp, Llc acquired 156,709 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was acquired at an average cost of $2.44 per share, with a total value of $382,369.96. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 304,927 shares of company stock worth $746,800. 11.20% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Qumu stock. Northern Trust Corp lifted its holdings in Qumu Corp (NASDAQ:QUMU) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,745 shares of the technology company’s stock after acquiring an additional 3,144 shares during the period. Northern Trust Corp owned approximately 0.38% of Qumu worth $104,000 as of its most recent SEC filing. Institutional investors and hedge funds own 23.81% of the company’s stock.

Qumu (QUMU) traded up $0.01 during trading hours on Friday, reaching $2.39. 1,093 shares of the company’s stock were exchanged, compared to its average volume of 28,506. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $22.54, a P/E ratio of -2.54 and a beta of -0.58. Qumu has a 12 month low of $1.80 and a 12 month 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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