Zacks: Qumu Corp. (NASDAQ:QUMU) Given Consensus Rating of “Buy” by Brokerages
Shares of Qumu Corp. (NASDAQ:QUMU) have been assigned a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have given a strong buy recommendation to the company.
Analysts have set a 12-month consensus target price of $5.50 for the company and are forecasting that the company will post ($0.40) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Qumu Corp. an industry rank of 35 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research cut Qumu Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 6th.
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Several hedge funds have recently made changes to their positions in QUMU. Renaissance Technologies LLC raised its stake in shares of Qumu Corp. by 1.7% in the first quarter. Renaissance Technologies LLC now owns 610,959 shares of the company’s stock worth $2,817,000 after buying an additional 10,200 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Qumu Corp. by 192.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 50,324 shares of the company’s stock worth $232,000 after buying an additional 33,126 shares during the last quarter. Keane Capital Partners LLC acquired a new stake in shares of Qumu Corp. during the first quarter worth about $314,000. Perkins Capital Management Inc. raised its stake in shares of Qumu Corp. by 120.6% in the second quarter. Perkins Capital Management Inc. now owns 300,010 shares of the company’s stock worth $1,332,000 after buying an additional 164,010 shares during the last quarter. Finally, Teton Advisors Inc. raised its stake in shares of Qumu Corp. by 0.5% in the second quarter. Teton Advisors Inc. now owns 202,400 shares of the company’s stock worth $899,000 after buying an additional 1,000 shares during the last quarter. 51.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Qumu Corp. (NASDAQ:QUMU) traded down 0.39% during trading on Wednesday, hitting $2.54. The stock had a trading volume of 2,879 shares. The stock’s 50 day moving average is $2.80 and its 200-day moving average is $4.07. Qumu Corp. has a 12-month low of $2.10 and a 12-month high of $5.50. The company’s market cap is $23.45 million.
Qumu Corp. (NASDAQ:QUMU) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.06. Qumu Corp. had a negative net margin of 16.49% and a negative return on equity of 19.88%. The firm earned $6.50 million during the quarter, compared to analyst estimates of $8.86 million. During the same quarter in the previous year, the business posted ($0.75) EPS. Qumu Corp.’s revenue was down 25.6% compared to the same quarter last year. Analysts forecast that Qumu Corp. will post ($1.44) earnings per share for the current year.
About Qumu Corp.
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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