Kovack Advisors Inc. Buys 73,900 Shares of SecureWorks Corp. (NASDAQ:SCWX)

Kovack Advisors Inc. boosted its stake in shares of SecureWorks Corp. (NASDAQ:SCWX) by 55.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,400 shares of the technology company’s stock after purchasing an additional 73,900 shares during the quarter. Kovack Advisors Inc.’s holdings in SecureWorks were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its position in shares of SecureWorks by 95.3% during the third quarter. Citigroup Inc. now owns 9,700 shares of the technology company’s stock valued at $60,000 after buying an additional 4,734 shares during the last quarter. Quadrature Capital Ltd grew its position in shares of SecureWorks by 56.6% in the 3rd quarter. Quadrature Capital Ltd now owns 25,377 shares of the technology company’s stock worth $158,000 after buying an additional 9,175 shares during the last quarter. Y.D. More Investments Ltd raised its stake in shares of SecureWorks by 32.6% during the 4th quarter. Y.D. More Investments Ltd now owns 24,963 shares of the technology company’s stock worth $184,000 after acquiring an additional 6,134 shares in the last quarter. Palogic Value Management L.P. lifted its position in SecureWorks by 2.7% during the fourth quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock valued at $1,793,000 after acquiring an additional 6,497 shares during the last quarter. Finally, Scalar Gauge Management LLC acquired a new stake in SecureWorks in the fourth quarter valued at approximately $1,816,000. Institutional investors own 14.38% of the company’s stock.

Insider Transactions at SecureWorks

In other news, major shareholder Neil Gagnon bought 13,798 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were purchased at an average cost of $5.99 per share, with a total value of $82,650.02. Following the transaction, the insider now directly owns 610,947 shares in the company, valued at $3,659,572.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 81.50% of the company’s stock.

SecureWorks Stock Performance

Shares of SCWX stock opened at $7.30 on Friday. SecureWorks Corp. has a fifty-two week low of $5.40 and a fifty-two week high of $8.20. The stock’s 50-day simple moving average is $6.26 and its 200-day simple moving average is $6.49.

SecureWorks (NASDAQ:SCWX) last released its earnings results on Thursday, June 6th. The technology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. SecureWorks had a negative net margin of 25.52% and a negative return on equity of 6.01%. The company had revenue of $85.65 million during the quarter, compared to analysts’ expectations of $83.95 million. Equities analysts anticipate that SecureWorks Corp. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research report on Thursday, June 6th.

About SecureWorks

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.