SG Americas Securities LLC acquired a new position in shares of Avid Technology, Inc. (OTCMKTS:AVID) during the first quarter, according to its most recent filing with the SEC. The firm acquired 29,705 shares of the technology company’s stock, valued at approximately $138,000.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Messner & Smith Theme Value Investment Management Ltd. CA raised its position in Avid Technology by 2.0% in the first quarter. Messner & Smith Theme Value Investment Management Ltd. CA now owns 276,697 shares of the technology company’s stock worth $1,290,000 after buying an additional 5,342 shares during the last quarter. Paradigm Capital Management Inc. NY purchased a new position in Avid Technology during the first quarter worth $908,000. Alambic Investment Management L.P. raised its position in Avid Technology by 27.5% in the first quarter. Alambic Investment Management L.P. now owns 448,948 shares of the technology company’s stock worth $2,092,000 after buying an additional 96,858 shares during the last quarter. Oxford Asset Management purchased a new position in Avid Technology during the first quarter worth $367,000. Finally, Trexquant Investment LP bought a new stake in shares of Avid Technology during the first quarter valued at approximately $371,000.
Avid Technology, Inc. (OTCMKTS AVID) opened at 5.33 on Friday. Avid Technology, Inc. has a 52 week low of $3.99 and a 52 week high of $9.78. The stock has a market cap of $217.85 million and a PE ratio of 8.57. The company’s 50-day moving average is $5.14 and its 200 day moving average is $5.17.
Avid Technology (OTCMKTS:AVID) last announced its 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 last year, the business earned $0.76 EPS. Avid Technology’s revenue for the quarter was down 27.5% compared to the same quarter last year. On average, analysts expect that Avid Technology, Inc. will post $0.35 earnings per share for the current fiscal year.
Several research firms have recently issued reports on AVID. ValuEngine lowered shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Zacks Investment Research lowered shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Monday, May 29th.
In related news, CEO Louis Hernandez, Jr. purchased 136,653 shares of Avid Technology stock in a transaction on Wednesday, June 14th. The shares were bought at an average price of $4.99 per share, with a total value of $681,898.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ryan H. Murray sold 9,500 shares of the stock in a transaction dated Friday, June 2nd. The shares were 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.
About Avid Technology
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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