Ativo Capital Management LLC raised its stake in shares of Avid Technology, Inc. (OTCMKTS:AVID) by 12.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,355 shares of the technology company’s stock after buying an additional 24,021 shares during the period. Ativo Capital Management LLC’s holdings in Avid Technology were worth $985,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Avid Technology by 16.4% in the first quarter. Geode Capital Management LLC now owns 268,460 shares of the technology company’s stock valued at $1,251,000 after buying an additional 37,868 shares during the period. Vanguard Group Inc. increased its stake in Avid Technology by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,373,218 shares of the technology company’s stock worth $11,059,000 after buying an additional 35,225 shares during the period. California Public Employees Retirement System increased its stake in Avid Technology by 12.5% in the first quarter. California Public Employees Retirement System now owns 239,400 shares of the technology company’s stock worth $1,116,000 after buying an additional 26,600 shares during the period. SG Americas Securities LLC acquired a new stake in Avid Technology during the first quarter worth about $138,000. Finally, Netols Asset Management Inc. increased its position in shares of Avid Technology by 27.6% in the first quarter. Netols Asset Management Inc. now owns 1,265,873 shares of the technology company’s stock worth $5,899,000 after buying an additional 273,936 shares during the last quarter.
Avid Technology, Inc. (AVID) traded down 3.11% on Tuesday, reaching $4.99. The company had a trading volume of 331,290 shares. The stock has a market capitalization of $203.96 million and a P/E ratio of 8.02. Avid Technology, Inc. has a 12-month low of $3.99 and a 12-month high of $9.78. The stock’s 50-day moving average price is $5.26 and its 200-day moving average price is $5.05.
Avid Technology (OTCMKTS:AVID) last announced its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $104.10 million during the quarter, compared to the consensus estimate of $105.72 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was down 27.5% compared to the same quarter last year. On average, equities research analysts anticipate that Avid Technology, Inc. will post $0.35 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on AVID shares. Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Tuesday, March 28th. ValuEngine cut shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th.
In related news, CEO Louis Hernandez, Jr. acquired 141,447 shares of the stock in a transaction dated Tuesday, June 13th. The stock was acquired at an average cost of $5.00 per share, with a total value of $707,235.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan H. Murray sold 9,500 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $5.13, for a total value of $48,735.00. The disclosure for this sale can be found here.
Avid Technology Company Profile
Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.
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