Imation Corporation (GLA) Announces Quarterly Earnings Results, Misses Estimates By $1.22 EPS

Imation Corporation (NYSE:GLA) released its quarterly earnings results on Monday, May 15th. The technology company reported ($1.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $1.22, Morningstar.com reports. Imation Corporation had a negative net margin of 97.44% and a negative return on equity of 302.33%. The firm had revenue of $9.60 million for the quarter.

Imation Corporation (GLA) traded down 7.78% during midday trading on Friday, hitting $3.20. The company had a trading volume of 35,965 shares. Imation Corporation has a 52 week low of $2.96 and a 52 week high of $17.10. The company’s market capitalization is $15.97 million. The stock has a 50 day moving average price of $4.33 and a 200 day moving average price of $6.49.

Earnings History for Imation Corporation (NYSE:GLA)

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In related news, insider George E. Hall acquired 81,957 shares of the business’s stock in a transaction dated Wednesday, March 29th. The shares were acquired at an average price of $5.26 per share, with a total value of $431,093.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 90,457 shares of company stock worth $466,689 in the last ninety days. Corporate insiders own 3.97% of the company’s stock.

Several hedge funds have recently bought and sold shares of GLA. VNBTrust National Association bought a new stake in Imation Corporation during the first quarter worth $261,000. Vanguard Group Inc. acquired a new position in Imation Corporation during the first quarter valued at approximately $277,000. Renaissance Technologies LLC acquired a new position in Imation Corporation during the first quarter valued at approximately $948,000. Clinton Group Inc. acquired a new position in Imation Corporation during the first quarter valued at approximately $956,000. Finally, Wells Fargo & Company MN acquired a new position in Imation Corporation during the first quarter valued at approximately $2,727,000. 45.48% of the stock is currently owned by institutional investors and hedge funds.

Imation Corporation Company Profile

GlassBridge Enterprises, Inc, formerly Imation Corp., is a holding company. The Company is a data storage and data security company. It operates through Nexsan segment. The Nexsan segment operates as its own product line. Its storage systems portfolio ranges from storage products to unified hybrid storage solutions for small and medium commercial businesses, enterprise and government customers.

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