Public Employees Retirement System of Ohio boosted its position in shares of Avaya Holdings Corp (NYSE:AVYA) by 57.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,363 shares of the company’s stock after acquiring an additional 1,232 shares during the period. Public Employees Retirement System of Ohio’s holdings in Avaya were worth $49,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benefit Street Partners LLC grew its holdings in Avaya by 9.1% during the 4th quarter. Benefit Street Partners LLC now owns 3,283,372 shares of the company’s stock worth $47,806,000 after acquiring an additional 273,218 shares in the last quarter. Paloma Partners Management Co acquired a new position in Avaya during the 4th quarter worth approximately $154,000. Rhumbline Advisers grew its holdings in Avaya by 41.9% during the 4th quarter. Rhumbline Advisers now owns 154,452 shares of the company’s stock worth $2,249,000 after acquiring an additional 45,604 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in Avaya during the 3rd quarter worth approximately $1,591,000. Finally, Royce & Associates LP grew its holdings in Avaya by 25.4% during the 4th quarter. Royce & Associates LP now owns 904,737 shares of the company’s stock worth $13,173,000 after acquiring an additional 183,000 shares in the last quarter. Institutional investors own 98.68% of the company’s stock.
Shares of Avaya stock opened at $19.01 on Friday. Avaya Holdings Corp has a 12-month low of $12.89 and a 12-month high of $23.54. The company has a quick ratio of 1.25, a current ratio of 1.31 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $2.10 billion, a PE ratio of 6.63 and a beta of 1.40.
Avaya (NYSE:AVYA) last issued its earnings results on Monday, February 11th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.09). Avaya had a net margin of 2.08% and a return on equity of 16.22%. The company had revenue of $738.00 million during the quarter, compared to analyst estimates of $761.50 million. As a group, research analysts expect that Avaya Holdings Corp will post 3.27 earnings per share for the current year.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Avaya from a “strong sell” rating to a “hold” rating in a report on Monday, April 15th. Guggenheim initiated coverage on shares of Avaya in a report on Monday, March 11th. They issued a “buy” rating and a $22.00 target price for the company. Morgan Stanley initiated coverage on shares of Avaya in a report on Monday, January 7th. They issued an “equal weight” rating and a $18.50 target price for the company. Finally, Barclays upgraded shares of Avaya from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $21.00 in a report on Friday, January 25th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $20.92.
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Avaya Company Profile
Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates through two segments, Products & Solutions, and Services. The Products & Solutions segment offers unified communications and contact center platforms, applications, and devices.
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