OxFORD Asset Management LLP Reduces Position in Avid Technology, Inc. (AVID)
OxFORD Asset Management LLP cut its position in shares of Avid Technology, Inc. (NASDAQ:AVID) by 38.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,140 shares of the technology company’s stock after selling 75,198 shares during the quarter. OxFORD Asset Management LLP owned about 0.29% of Avid Technology worth $547,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in shares of Avid Technology during the second quarter valued at approximately $105,000. Petrus Trust Company LTA purchased a new position in Avid Technology during the second quarter valued at $105,000. Voya Investment Management LLC raised its stake in Avid Technology by 25.6% during the second quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock valued at $109,000 after buying an additional 4,220 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Avid Technology during the third quarter valued at $109,000. Finally, Alliancebernstein L.P. purchased a new position in Avid Technology during the second quarter valued at $140,000. Institutional investors own 71.77% of the company’s stock.
In other Avid Technology news, Director Robert M. Bakish purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was purchased at an average price of $6.00 per share, for a total transaction of $120,000.00. Following the completion of the purchase, the director now directly owns 693,058 shares of the company’s stock, valued at $4,158,348. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.50% of the stock is owned by insiders.
Avid Technology, Inc. (NASDAQ:AVID) opened at $5.88 on Wednesday. Avid Technology, Inc. has a one year low of $3.99 and a one year high of $7.65. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of -0.71. The firm has a market capitalization of $242.59, a price-to-earnings ratio of -32.66 and a beta of 1.78.
A number of research analysts have issued reports on AVID shares. Zacks Investment Research upgraded Avid Technology from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Wednesday, November 15th. ValuEngine cut Avid Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Dougherty & Co cut Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 price objective for the company. in a research note on Thursday, December 7th.
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About Avid Technology
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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