Shares of Avid Technology, Inc. (NASDAQ:AVID) have earned a consensus broker rating score of 4.00 (Sell) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and one has given a hold rating to the company. Avid Technology’s rating score has declined by 33.3% in the last 90 days as a result of a number of analysts’ ratings changes.
Brokerages have set a 1 year consensus price objective of $4.75 for the company and are expecting that the company will post $0.23 earnings per share for the current quarter, according to Zacks. Zacks has also given Avid Technology an industry rank of 121 out of 265 based on the ratings given to related companies.
A number of analysts have issued reports on the company. Dougherty & Co downgraded 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 Avid Technology from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. Finally, ValuEngine raised Avid Technology from a “hold” rating to a “buy” rating in a research note on Saturday, February 3rd.
Shares of Avid Technology (NASDAQ:AVID) traded up $0.07 on Thursday, hitting $4.82. The company’s stock had a trading volume of 215,811 shares, compared to its average volume of 313,823. Avid Technology has a twelve month low of $3.99 and a twelve month high of $7.65. The firm has a market cap of $196.05, a P/E ratio of -26.78 and a beta of 1.80. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of -0.71.
In related news, Director Robert M. Bakish bought 20,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was acquired at an average cost of $6.69 per share, with a total value of $133,800.00. Following the purchase, the director now directly owns 693,058 shares of the company’s stock, valued at $4,636,558.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 7.50% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new stake in shares of Avid Technology during the 2nd quarter worth about $470,000. Ameriprise Financial Inc. acquired a new stake in shares of Avid Technology during the 2nd quarter worth about $396,000. Dimensional Fund Advisors LP increased its position in shares of Avid Technology by 13.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,909,953 shares of the technology company’s stock worth $10,047,000 after purchasing an additional 229,071 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Avid Technology by 58.9% during the 2nd quarter. Teachers Advisors LLC now owns 81,463 shares of the technology company’s stock worth $428,000 after purchasing an additional 30,183 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Avid Technology by 28.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 199,265 shares of the technology company’s stock worth $905,000 after purchasing an additional 43,675 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.
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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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