Kovack Advisors Inc. Decreases Stock Holdings in SecureWorks Corp. (NASDAQ:SCWX)

Kovack Advisors Inc. cut its stake in SecureWorks Corp. (NASDAQ:SCWX) by 80.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,800 shares of the technology company’s stock after selling 262,716 shares during the quarter. Kovack Advisors Inc.’s holdings in SecureWorks were worth $548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Y.D. More Investments Ltd grew its holdings in shares of SecureWorks by 7.9% in the 4th quarter. Y.D. More Investments Ltd now owns 20,465 shares of the technology company’s stock worth $173,000 after acquiring an additional 1,501 shares during the period. State Street Corp boosted its position in SecureWorks by 5.5% during the third quarter. State Street Corp now owns 44,227 shares of the technology company’s stock worth $391,000 after purchasing an additional 2,300 shares in the last quarter. FMR LLC boosted its position in shares of SecureWorks by 22.3% in the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after buying an additional 3,964 shares in the last quarter. Atom Investors LP grew its stake in SecureWorks by 14.6% in the 3rd quarter. Atom Investors LP now owns 85,186 shares of the technology company’s stock valued at $754,000 after acquiring an additional 10,823 shares during the last quarter. Finally, Brooktree Capital Management grew its position in shares of SecureWorks by 9.9% in the third quarter. Brooktree Capital Management now owns 174,191 shares of the technology company’s stock valued at $1,542,000 after purchasing an additional 15,680 shares during the last quarter. 14.38% of the stock is currently owned by institutional investors and hedge funds.

SecureWorks Price Performance

Shares of NASDAQ SCWX opened at $8.51 on Friday. The company has a 50-day simple moving average of $8.47 and a 200-day simple moving average of $8.23. The company has a market cap of $755.94 million, a PE ratio of -8.60 and a beta of 0.94. SecureWorks Corp. has a 12 month low of $5.61 and a 12 month high of $9.76.

SecureWorks (NASDAQ:SCWX) last released its earnings results on Wednesday, December 4th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). SecureWorks had a negative return on equity of 5.71% and a negative net margin of 25.49%. On average, analysts anticipate that SecureWorks Corp. will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on SecureWorks in a research report on Friday. They issued a “hold” rating on the stock.

SecureWorks Profile

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions; managed security services; and professional services, including incident response and penetration testing services.