Itau Unibanco Holding S.A. Makes New $3.02 Million Investment in Quantum Co. (NASDAQ:QMCO)

Itau Unibanco Holding S.A. acquired a new stake in shares of Quantum Co. (NASDAQ:QMCO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 56,000 shares of the company's stock, valued at approximately $3,020,000. Itau Unibanco Holding S.A. owned 0.97% of Quantum as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QMCO. Arkadios Wealth Advisors purchased a new position in Quantum in the 4th quarter worth about $466,000. Flagship Harbor Advisors LLC purchased a new position in shares of Quantum in the fourth quarter valued at $226,000. UNICOM Systems Inc. purchased a new position in shares of Quantum in the 4th quarter worth approximately $4,057,000. SBI Securities Co. Ltd. bought a new stake in Quantum in the fourth quarter worth about $194,000. Finally, LPL Financial LLC bought a new position in shares of Quantum in the fourth quarter worth about $397,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Quantum Price Performance

Shares of QMCO stock traded up $0.21 during trading hours on Friday, hitting $11.19. The stock had a trading volume of 623,795 shares, compared to its average volume of 1,212,254. Quantum Co. has a twelve month low of $2.22 and a twelve month high of $90.64. The stock's 50 day moving average is $12.75 and its 200 day moving average is $18.65.

Quantum (NASDAQ:QMCO - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.08). As a group, equities analysts anticipate that Quantum Co. will post -5.5 EPS for the current year.

Insider Buying and Selling

In related news, CEO James J. Lerner sold 2,784 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $9.65, for a total transaction of $26,865.60. Following the transaction, the chief executive officer now directly owns 110,848 shares of the company's stock, valued at approximately $1,069,683.20. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Pacific Investment Management sold 962,127 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $10.25, for a total value of $9,861,801.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 967,583 shares of company stock worth $9,930,082. Insiders own 4.50% of the company's stock.

Analysts Set New Price Targets

QMCO has been the topic of a number of recent analyst reports. Lake Street Capital raised their price target on shares of Quantum from $5.00 to $20.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Northland Securities upped their price target on shares of Quantum from $5.00 to $18.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th.

About Quantum

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.