Engineers Gate Manager LP bought a new position in shares of Avid Technology, Inc. (NASDAQ:AVID) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,589 shares of the technology company’s stock, valued at approximately $134,000. Engineers Gate Manager LP owned approximately 0.05% of Avid Technology as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AVID. Royce & Associates LP grew its position in shares of Avid Technology by 54.4% during the 2nd quarter. Royce & Associates LP now owns 1,142,743 shares of the technology company’s stock worth $5,942,000 after purchasing an additional 402,745 shares in the last quarter. Nomura Holdings Inc. grew its position in shares of Avid Technology by 1,441.3% during the 2nd quarter. Nomura Holdings Inc. now owns 246,600 shares of the technology company’s stock worth $1,282,000 after purchasing an additional 230,600 shares in the last quarter. Engine Capital Management LP grew its position in shares of Avid Technology by 104.6% during the 2nd quarter. Engine Capital Management LP now owns 365,763 shares of the technology company’s stock worth $1,902,000 after purchasing an additional 186,960 shares in the last quarter. Cove Street Capital LLC grew its position in shares of Avid Technology by 1.4% during the 2nd quarter. Cove Street Capital LLC now owns 6,320,591 shares of the technology company’s stock worth $32,867,000 after purchasing an additional 85,200 shares in the last quarter. Finally, Spark Investment Management LLC grew its position in shares of Avid Technology by 39.9% during the 2nd quarter. Spark Investment Management LLC now owns 242,200 shares of the technology company’s stock worth $1,259,000 after purchasing an additional 69,100 shares in the last quarter. Hedge funds and other institutional investors own 70.79% of the company’s stock.

NASDAQ AVID opened at $6.16 on Wednesday. The company has a market cap of $265.35 million, a P/E ratio of 90.57 and a beta of 1.78. Avid Technology, Inc. has a 1 year low of $4.26 and a 1 year high of $7.65.

Avid Technology (NASDAQ:AVID) last posted its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The business had revenue of $104.05 million for the quarter, compared to analyst estimates of $104.96 million. Avid Technology had a negative net margin of 4.28% and a negative return on equity of 1.55%. Analysts forecast that Avid Technology, Inc. will post -0.04 earnings per share for the current fiscal year.

A number of research analysts have issued reports on AVID shares. Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Wednesday, September 26th. BWS Financial lowered shares of Avid Technology from a “hold” rating to a “sell” rating and set a $5.00 target price on the stock. in a research report on Friday, November 16th. Jefferies Financial Group started coverage on shares of Avid Technology in a research report on Tuesday, November 13th. They set a “hold” rating and a $6.00 target price on the stock. BidaskClub upgraded shares of Avid Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, ValuEngine upgraded shares of Avid Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $5.44.

In related news, SVP Peter Ennis sold 8,600 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $5.92, for a total transaction of $50,912.00. Following the sale, the senior vice president now owns 41,857 shares in the company, valued at approximately $247,793.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.90% of the company’s stock.

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Avid Technology Profile

Avid Technology, Inc develops, markets, sells, and supports software, hardware, and integrated solutions for video and audio content creation, management, and distribution worldwide. The company's video products and solutions include the Media Composer product line that is used to edit film, television programming, news broadcasts, commercials, and other video content; Avid shared storage systems and Avid Interplay asset management solutions, which provide complete network, storage, and database solutions to enable users to simultaneously share and manage media assets throughout a project or organization.

Further Reading: Fundamental Analysis

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Institutional Ownership by Quarter for Avid Technology (NASDAQ:AVID)

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