Alpine Associates Management Inc. Makes New $5.27 Million Investment in SecureWorks Corp. (NASDAQ:SCWX)

Alpine Associates Management Inc. purchased a new position in shares of SecureWorks Corp. (NASDAQ:SCWX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 623,254 shares of the technology company’s stock, valued at approximately $5,273,000. Alpine Associates Management Inc. owned about 0.70% of SecureWorks at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Y.D. More Investments Ltd boosted its position in shares of SecureWorks by 7.9% in the fourth 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 last quarter. FMR LLC boosted its position in shares of SecureWorks by 22.3% in the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after acquiring an additional 3,964 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of SecureWorks in the fourth quarter worth approximately $317,000. State Street Corp boosted its position in shares of SecureWorks by 5.5% in the third quarter. State Street Corp now owns 44,227 shares of the technology company’s stock worth $391,000 after acquiring an additional 2,300 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of SecureWorks in the third quarter worth approximately $407,000. 14.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of SecureWorks in a research report on Saturday. They issued a “hold” rating on the stock.

SecureWorks Price Performance

SecureWorks stock opened at $8.51 on Friday. SecureWorks Corp. has a 52-week low of $5.61 and a 52-week high of $9.76. The firm has a fifty day moving average of $8.48 and a 200-day moving average of $8.29. The firm has a market capitalization of $755.94 million, a P/E ratio of -8.60 and a beta of 0.94.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings data on Wednesday, December 4th. The technology company reported ($0.13) earnings per share (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, research analysts expect that SecureWorks Corp. will post -0.29 EPS for the current fiscal year.

SecureWorks Company 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.