Shares of Avid Technology, Inc. (NASDAQ:AVID) have been given an average broker rating score of 4.00 (Sell) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell recommendation and one has given a hold recommendation to the company. Avid Technology’s rating score has declined by 33.3% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus target price of $4.75 for the company and are expecting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also given Avid Technology an industry rank of 163 out of 265 based on the ratings given to related companies.
Several equities research analysts have commented on AVID shares. Dougherty & Co downgraded shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 target price for the company. in a research note on Thursday, December 7th. Zacks Investment Research downgraded shares of Avid Technology from a “buy” rating to a “hold” rating in a research note on Friday. Finally, ValuEngine raised shares of Avid Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st.
In other news, Director Robert M. Bakish bought 20,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was purchased at an average price of $6.69 per share, with a total value of $133,800.00. Following the completion of the purchase, the director now owns 693,058 shares of the company’s stock, valued at $4,636,558.02. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of Avid Technology during the second quarter worth $105,000. Petrus Trust Company LTA bought a new stake in shares of Avid Technology during the second quarter worth $105,000. Voya Investment Management LLC increased its position in shares of Avid Technology by 25.6% during the second quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock worth $109,000 after acquiring an additional 4,220 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Avid Technology during the third quarter worth $109,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Avid Technology during the second quarter worth $140,000. 71.77% of the stock is owned by institutional investors.
Shares of Avid Technology (NASDAQ AVID) traded up $0.03 during trading hours on Thursday, reaching $5.63. 208,222 shares of the company’s stock traded hands, compared to its average volume of 552,403. Avid Technology has a 1 year low of $3.99 and a 1 year high of $7.65. The company has a debt-to-equity ratio of -0.71, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market capitalization of $231.88, a P/E ratio of -31.28 and a beta of 1.80.
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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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