Eaton Vance Management maintained its position in shares of Avid Technology, Inc. (OTCMKTS:AVID) during the second quarter, Holdings Channel reports. The institutional investor owned 23,655 shares of the company’s stock at the end of the second quarter. Eaton Vance Management owned about 0.06% of Avid Technology worth $137,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. bought a new position in Avid Technology during the second quarter worth approximately $137,000. Thompson Davis & CO. Inc. bought a new stake in shares of Avid Technology during the second quarter valued at about $169,000. William Harris Investors Inc. increased its stake in shares of Avid Technology by 21.4% in the second quarter. William Harris Investors Inc. now owns 34,060 shares of the company’s stock valued at $198,000 after buying an additional 6,000 shares during the period. New Jersey Better Educational Savings Trust increased its stake in shares of Avid Technology by 38.9% in the second quarter. New Jersey Better Educational Savings Trust now owns 50,000 shares of the company’s stock valued at $291,000 after buying an additional 14,000 shares during the period. Finally, Teton Advisors Inc. increased its stake in shares of Avid Technology by 3.2% in the second quarter. Teton Advisors Inc. now owns 65,000 shares of the company’s stock valued at $378,000 after buying an additional 2,000 shares during the period.
Shares of Avid Technology, Inc. (OTCMKTS:AVID) traded up 0.26% on Tuesday, hitting $7.69. The stock had a trading volume of 113,716 shares. Avid Technology, Inc. has a 12 month low of $5.26 and a 12 month high of $9.78. The stock has a market cap of $306.22 million and a PE ratio of 7.68. The stock has a 50 day moving average of $8.49 and a 200-day moving average of $6.78.
Avid Technology (OTCMKTS:AVID) last released its earnings results on Wednesday, August 3rd. The company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.41. The firm earned $134.40 million during the quarter. Equities research analysts anticipate that Avid Technology, Inc. will post $2.19 EPS for the current year.
Separately, Zacks Investment Research upgraded Avid Technology from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a research note on Friday, July 8th.
In other Avid Technology news, CFO John W. Frederick sold 457,506 shares of Avid Technology stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $9.09, for a total transaction of $4,158,729.54. Following the completion of the transaction, the chief financial officer now owns 128,852 shares in the company, valued at $1,171,264.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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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