TCW Group Inc. Sells 2,014,158 Shares of Quantum Co. (NASDAQ:QMCO)

TCW Group Inc. reduced its stake in Quantum Co. (NASDAQ:QMCO) by 95.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,010 shares of the company’s stock after selling 2,014,158 shares during the quarter. TCW Group Inc.’s holdings in Quantum were worth $371,000 at the end of the most recent reporting period.

Quantum Stock Down 12.4 %

Shares of QMCO stock opened at $17.17 on Friday. Quantum Co. has a 52 week low of $2.22 and a 52 week high of $33.00. The firm has a 50 day moving average of $7.66 and a 200-day moving average of $6.93.

Insiders Place Their Bets

In other news, CEO James J. Lerner sold 6,505 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $4.43, for a total transaction of $28,817.15. Following the transaction, the chief executive officer now directly owns 107,491 shares of the company’s stock, valued at $476,185.13. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 15,561 shares of company stock worth $68,935. 3.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Northland Securities restated a “market perform” rating and set a $5.00 target price (up previously from $0.25) on shares of Quantum in a research report on Thursday, November 14th.

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.