Neuberger Berman Divests Quantum Corp Stake

TL;DR

**Neuberger Berman dumped their Quantum Corp shares!**

AI Summary

Neuberger Berman Group LLC, a Delaware-based investment adviser, filed an amended Schedule 13G/A on February 12, 2024, indicating a change in their beneficial ownership of Quantum Corp /DE/ common stock as of December 31, 2023. The filing shows Neuberger Berman now holds 0 shares with sole voting power, a significant decrease from previous filings. This matters to investors because it signals a complete divestment or a substantial reduction in a major institutional investor's stake, which could be interpreted negatively by the market and potentially impact Quantum Corp's stock price.

Why It Matters

A major institutional investor, Neuberger Berman, has reduced its beneficial ownership in Quantum Corp to zero shares with sole voting power, which could signal a lack of confidence in the company's future prospects.

Risk Assessment

Risk Level: medium — The complete divestment by a significant institutional investor like Neuberger Berman could indicate underlying concerns about Quantum Corp, potentially leading to increased selling pressure.

Analyst Insight

A smart investor would investigate the reasons behind Neuberger Berman's complete divestment from Quantum Corp and consider if this signals deeper issues before making any investment decisions.

Key Numbers

• 0 — Sole Voting Power Shares (Neuberger Berman Group LLC now holds 0 shares with sole voting power in Quantum Corp /DE/.)

Key Players & Entities

• Neuberger Berman Group LLC (company) — the reporting person that filed the SC 13G/A
• Quantum Corp /DE/ (company) — the subject company whose securities are being reported
• Delaware (place) — state of organization for Neuberger Berman Group LLC
• December 31, 2023 (date) — date of the event requiring the filing
• February 12, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Quantum Corp's stock price may experience downward pressure. (Quantum Corp /DE/) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Quantum Corp. (institutional investors) — low confidence, target: Q2 2024

FAQ

Filing Documents

• formsc13ga-02122024_080249.htm (SC 13G/A) — 82KB
• 0001415889-24-003355.txt ( ) — 83KB

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Neuberger Berman Group LLC and its affiliates may be deemed to be beneficial owners of securities for purposes of Exchange Act Rule 13d-3 because they or certain affiliated persons have shared power to retain, dispose of or vote the securities of unrelated clients. Neuberger Berman Group LLC or its affiliated persons do not, however, have any economic interest in the securities of those clients. The clients have the sole right to receive and the power to direct the receipt of dividends from or proceeds from the sale of such securities. Other than named in this filing, no one client has an interest of more than 5% of the issuer. With regard to the shares set forth under item 4(c)(ii), Neuberger Berman Group LLC may be deemed to be the beneficial owner for purposes of Rule 13d-3 because certain affiliated persons have shared power to retain, dispose of and vote the securities. In addition to the holdings of individual advisory clients, Neuberger Berman Investment Advisers LLC serves as investment manager of Neuberger Berman Group LLC's various registered mutual funds which hold such shares. The holdings belonging to clients of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC are also aggregated to comprise the holdings referenced herein. In addition to the shares set forth under Item 4(c)(ii) for which Neuberger entities also have shared power to dispose of the shares, item 4(c)(iv) also includes shares from individual client accounts over which Neuberger Berman Investment Advisers LLC has shared power to dispose but does not have voting power over these shares. The holdings of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC, are also aggr

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. N/A

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. N/A

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 12, 2024 Neuberger Berman Group LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director Date: February 12, 2024 Neuberger Berman Investment Advisers LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director Date: February 12, 2024 Neuberger Berman Equity Funds By: /s/ Brian Kerrane Name: Brian Kerrane Title: Chief Operating Officer Date: February 12, 2024 Neuberger Berman Intrinsic Value Fund By: /s/ Brian Kerrane Name: Brian Kerrane Title: Chief Operating Officer

View Full Filing

View this SC 13G/A filing on SEC EDGAR