Qumu Corporation (NASDAQ:QUMU) issued its quarterly earnings data on Tuesday, August 1st. The technology company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.04, Briefing.com reports. Qumu Corporation had a negative return on equity of 53.09% and a negative net margin of 29.95%. The firm had revenue of $6.65 million during the quarter, compared to the consensus estimate of $7.06 million. During the same quarter in the previous year, the company posted ($0.46) EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Qumu Corporation updated its Q3 guidance to ($0.16-0.21) EPS and its FY17 guidance to ($0.87-1.02) EPS.
Qumu Corporation (NASDAQ QUMU) traded down 7.32% during midday trading on Friday, hitting $2.66. The stock had a trading volume of 8,038 shares. The stock’s market cap is $24.88 million. Qumu Corporation has a 1-year low of $1.80 and a 1-year high of $3.77. The company has a 50-day moving average of $2.76 and a 200-day moving average of $2.62.
Separately, Zacks Investment Research downgraded Qumu Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of Qumu Corporation 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 buying an additional 22,501 shares in the last quarter. Perkins Capital Management Inc. raised its position in shares of Qumu Corporation by 6.4% in the first quarter. Perkins Capital Management Inc. now owns 309,961 shares of the technology company’s stock valued at $874,000 after buying an additional 18,633 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Qumu Corporation 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 buying an additional 6,741 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Qumu Corporation by 9.6% in the second quarter. Northern Trust Corp now owns 35,745 shares of the technology company’s stock valued at $104,000 after buying an additional 3,144 shares in the last quarter. Institutional investors own 25.55% of the company’s stock.
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About Qumu Corporation
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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