Quantum Co. (NASDAQ:QMCO) Shares Bought by Bank of America Corp DE

Bank of America Corp DE boosted its stake in shares of Quantum Co. (NASDAQ:QMCO) by 125,408.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,305 shares of the company’s stock after purchasing an additional 75,245 shares during the quarter. Bank of America Corp DE owned approximately 1.31% of Quantum worth $4,060,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in QMCO. UNICOM Systems Inc. acquired a new stake in shares of Quantum during the fourth quarter worth $4,057,000. Itau Unibanco Holding S.A. purchased a new stake in Quantum in the 4th quarter worth approximately $3,020,000. Jane Street Group LLC bought a new position in shares of Quantum during the 4th quarter valued at $1,812,000. Diametric Capital LP bought a new position in shares of Quantum during the 4th quarter valued at $670,000. Finally, CIBC Private Wealth Group LLC bought a new position in Quantum in the 4th quarter worth $593,000. Institutional investors own 63.66% of the company’s stock.

Quantum Trading Down 10.6%

Quantum stock opened at $12.50 on Friday. Quantum Co. has a twelve month low of $2.22 and a twelve month high of $90.64. The company has a 50 day moving average of $11.83 and a 200-day moving average of $19.48.

Insider Buying and Selling

In related news, major shareholder Pacific Investment Management sold 962,127 shares of Quantum stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $10.25, for a total transaction of $9,861,801.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James J. Lerner sold 2,784 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 110,848 shares in the company, valued at $1,069,683.20. The trade was a 2.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 966,304 shares of company stock worth $9,902,545. 4.50% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Northland Securities raised 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.