Marathon Capital Management boosted its stake in shares of Quantenna Communications (NASDAQ:QTNA) by 80.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,300 shares of the technology company’s stock after buying an additional 66,300 shares during the quarter. Quantenna Communications makes up approximately 0.8% of Marathon Capital Management’s portfolio, making the stock its 22nd biggest position. Marathon Capital Management owned 0.41% of Quantenna Communications worth $2,031,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in QTNA. Thrivent Financial For Lutherans acquired a new position in Quantenna Communications during the 4th quarter worth about $10,008,000. Boston Partners bought a new position in shares of Quantenna Communications in the 1st quarter worth about $4,064,000. Cortina Asset Management LLC raised its position in shares of Quantenna Communications by 36.2% in the 4th quarter. Cortina Asset Management LLC now owns 645,349 shares of the technology company’s stock worth $7,873,000 after acquiring an additional 171,582 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Quantenna Communications in the 4th quarter worth about $2,005,000. Finally, Franklin Resources Inc. bought a new position in shares of Quantenna Communications in the 4th quarter worth about $1,976,000. 47.74% of the stock is currently owned by hedge funds and other institutional investors.
Quantenna Communications traded down $0.11, reaching $15.30, during midday trading on Friday, MarketBeat reports. The stock had a trading volume of 2,223 shares, compared to its average volume of 349,222. Quantenna Communications has a 12 month low of $14.58 and a 12 month high of $14.92. The firm has a market capitalization of $549.51 million, a price-to-earnings ratio of -769.50, a PEG ratio of 2.49 and a beta of 1.53.
Several research firms have recently weighed in on QTNA. Dougherty & Co began coverage on Quantenna Communications in a research report on Tuesday. They issued a “buy” rating and a $20.00 price objective for the company. ValuEngine lowered Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Northland Securities began coverage on Quantenna Communications in a research report on Thursday, March 8th. They issued an “outperform” rating and a $18.00 price objective for the company. BidaskClub raised Quantenna Communications from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Zacks Investment Research lowered Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Quantenna Communications presently has a consensus rating of “Hold” and an average target price of $19.67.
In other Quantenna Communications news, SVP David William Carroll sold 3,866 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $14.00, for a total transaction of $54,124.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 18,346 shares of company stock valued at $265,557 over the last ninety days. 13.49% of the stock is currently owned by corporate insiders.
About Quantenna Communications
Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the United States and internationally. The company's solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and draft 802.11ax.
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