Qumu (QUMU) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Qumu (NASDAQ:QUMU) from a hold rating to a buy rating in a research report report published on Thursday morning. Zacks Investment Research currently has $2.75 target price on the technology company’s stock.

According to Zacks, “Qumu Corp. provides enterprise video solutions. The company offers a media appliance for video creation and distribution, an enterprise video platform to manage process stages in a video’s lifecycle, a solution to manage and deliver live Webcasts and digital signage software to deliver corporate video communications and other content to displays in reception areas, lobbies, lunchrooms, waiting areas and other gathering places. It serves financial services, communications, manufacturing, and professional services markets. Qumu Corp., formerly known as Rimage Corporation, is based in Minneapolis, United States. “

Shares of Qumu (QUMU) traded up $0.09 on Thursday, hitting $2.38. The stock had a trading volume of 1,000 shares, compared to its average volume of 7,300. Qumu has a one year low of $1.80 and a one year high of $3.28. The company has a market cap of $21.50, a PE ratio of -2.48 and a beta of -0.58. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56.

In related news, major shareholder Discovery Fund Lp Harbert bought 51,618 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was acquired at an average cost of $2.46 per share, with a total value of $126,980.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Harbert Discovery Fund Gp, Llc bought 156,709 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average cost of $2.44 per share, with a total value of $382,369.96. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 304,927 shares of company stock valued at $746,800. 11.20% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in Qumu stock. Northern Trust Corp raised its stake in shares of Qumu Corp (NASDAQ:QUMU) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,745 shares of the technology company’s stock after purchasing an additional 3,144 shares during the period. Northern Trust Corp owned 0.38% of Qumu worth $104,000 at the end of the most recent quarter. 23.81% of the stock is currently owned by institutional investors.

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Qumu Company Profile

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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