Allianz Asset Management GmbH Buys 449,711 Shares of Quantum Corporation (NASDAQ:QMCO)

Key Points

• Allianz Asset Management GmbH has increased its stake in Quantum Corporation by 87.8%, acquiring an additional 449,711 shares, bringing its total holdings to 962,127 shares worth approximately $13.8 million.
• Quantum Corporation's stock has a 1-year range with a low of $2.22 and a high of $90.64, currently trading at $8.88.
• Institutional investors now hold about 63.66% of Quantum’s stock, reflecting increasing interest from larger investment entities in the company.

Allianz Asset Management GmbH boosted its stake in Quantum Corporation (NASDAQ:QMCO - Free Report) by 87.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 962,127 shares of the company's stock after buying an additional 449,711 shares during the quarter. Allianz Asset Management GmbH owned approximately 13.84% of Quantum worth $13,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in shares of Quantum during the 4th quarter valued at about $506,000. Bridgeway Capital Management LLC acquired a new stake in shares of Quantum during the 4th quarter valued at about $444,000. Bank of America Corp DE lifted its holdings in shares of Quantum by 125,408.3% during the 4th quarter. Bank of America Corp DE now owns 75,305 shares of the company's stock valued at $4,060,000 after buying an additional 75,245 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Quantum during the 4th quarter valued at about $3,020,000. Finally, Jane Street Group LLC acquired a new stake in shares of Quantum during the 4th quarter valued at about $1,812,000. Hedge funds and other institutional investors own 63.66% of the company's stock.

Quantum Stock Down 4.3%

Shares of Quantum stock traded down $0.36 during trading on Tuesday, hitting $7.92. 367,832 shares of the stock traded hands, compared to its average volume of 1,540,469. Quantum Corporation has a twelve month low of $2.22 and a twelve month high of $90.64. The company has a fifty day moving average price of $10.06 and a two-hundred day moving average price of $14.07.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets reiterated a "buy" rating on shares of Quantum in a report on Wednesday, June 18th.

Quantum Company Profile

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.