Palogic Value Management L.P. Sells 85,000 Shares of SecureWorks Corp. (NASDAQ:SCWX)

Palogic Value Management L.P. lessened its holdings in shares of SecureWorks Corp. (NASDAQ:SCWX) by 63.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the technology company’s stock after selling 85,000 shares during the quarter. Palogic Value Management L.P. owned approximately 0.06% of SecureWorks worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Gardner Lewis Asset Management L P purchased a new position in SecureWorks during the fourth quarter valued at $10,795,000. Alpine Associates Management Inc. purchased a new position in shares of SecureWorks during the 4th quarter valued at about $5,273,000. Alberta Investment Management Corp bought a new position in shares of SecureWorks during the 4th quarter valued at approximately $5,076,000. JPMorgan Chase & Co. increased its holdings in SecureWorks by 845,578.6% in the 4th quarter. JPMorgan Chase & Co. now owns 118,395 shares of the technology company’s stock worth $1,002,000 after acquiring an additional 118,381 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in SecureWorks during the 4th quarter worth approximately $680,000. Institutional investors own 14.38% of the company’s stock.

SecureWorks Stock Performance

Shares of SCWX opened at $8.51 on Friday. The business’s 50 day moving average is $8.50 and its 200 day moving average is $8.36. SecureWorks Corp. has a 12-month low of $5.61 and a 12-month high of $9.76. The company has a market capitalization of $755.94 million, a PE ratio of -8.60 and a beta of 0.94.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of SecureWorks in a research note on Monday, March 24th. They issued a “hold” rating for the company.

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.