Parametric Portfolio Associates LLC lowered its position in Avid Technology, Inc. (OTCMKTS:AVID) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 191,511 shares of the technology company’s stock after selling 8,688 shares during the period. Parametric Portfolio Associates LLC’s holdings in Avid Technology were worth $892,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. CAPROCK Group Inc. bought a new position in Avid Technology during the first quarter worth $373,000. Two Sigma Investments LP raised its position in Avid Technology by 19.1% in the fourth quarter. Two Sigma Investments LP now owns 104,200 shares of the technology company’s stock valued at $458,000 after buying an additional 16,700 shares during the last quarter. Renaissance Technologies LLC raised its position in Avid Technology by 4.1% in the fourth quarter. Renaissance Technologies LLC now owns 109,100 shares of the technology company’s stock valued at $480,000 after buying an additional 4,300 shares during the last quarter. Wells Fargo & Company MN raised its position in Avid Technology by 522.6% in the first quarter. Wells Fargo & Company MN now owns 150,596 shares of the technology company’s stock valued at $702,000 after buying an additional 126,406 shares during the last quarter. Finally, Highbridge Capital Management LLC raised its position in Avid Technology by 530.1% in the fourth quarter. Highbridge Capital Management LLC now owns 161,972 shares of the technology company’s stock valued at $712,000 after buying an additional 136,265 shares during the last quarter.
Avid Technology, Inc. (OTCMKTS AVID) traded down 1.63% on Friday, reaching $4.22. The company’s stock had a trading volume of 411,809 shares. The firm has a market capitalization of $173.56 million and a PE ratio of 108.21. The stock’s 50 day moving average is $5.02 and its 200-day moving average is $5.16. Avid Technology, Inc. has a 52 week low of $3.99 and a 52 week high of $9.78.
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Several equities research analysts have commented on AVID shares. Zacks Investment Research lowered Avid Technology from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. ValuEngine lowered Avid Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th.
In other news, CEO Louis Hernandez, Jr. purchased 141,447 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was bought at an average price of $5.00 per share, with a total value of $707,235.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan H. Murray sold 9,500 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $5.13, for a total transaction of $48,735.00. The disclosure for this sale can be found here.
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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