Analysts Set $3.50 Target Price for Qumu Corp (QUMU)

Qumu Corp (NASDAQ:QUMU) has been given a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Analysts have set a 1 year consensus price objective of $3.50 for the company and are predicting that the company will post ($0.15) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Qumu an industry rank of 67 out of 265 based on the ratings given to related companies.

Shares of Qumu (QUMU) traded up $0.02 during mid-day trading on Thursday, hitting $2.40. The stock had a trading volume of 12,639 shares, compared to its average volume of 37,030. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. Qumu has a fifty-two week low of $1.80 and a fifty-two week high of $3.28.

In other Qumu news, major shareholder Harbert Discovery Fund Gp, Llc purchased 156,709 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average price of $2.44 per share, for a total transaction of $382,369.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Discovery Fund Lp Harbert purchased 51,618 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was acquired at an average price of $2.46 per share, with a total value of $126,980.28. The disclosure for this purchase can be found here. In the last three months, insiders bought 304,927 shares of company stock valued at $746,800. Insiders own 14.30% of the company’s stock.

Large investors have recently bought and sold shares of the business. Northern Trust Corp increased its stake in Qumu by 9.6% during the 2nd quarter. Northern Trust Corp now owns 35,745 shares of the technology company’s stock worth $104,000 after buying an additional 3,144 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Qumu by 76.6% in the first quarter. Bank of New York Mellon Corp now owns 51,862 shares of the technology company’s stock valued at $146,000 after purchasing an additional 22,501 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Qumu by 1.1% in the first quarter. Renaissance Technologies LLC now owns 642,100 shares of the technology company’s stock valued at $1,811,000 after purchasing an additional 6,741 shares in the last quarter. Institutional investors own 23.81% of the company’s stock.

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About Qumu

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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