Schwab Charles Investment Management Inc. Raises Position in Avid (AVID)

Schwab Charles Investment Management Inc. increased its holdings in Avid (NASDAQ:AVID) by 24.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,026 shares of the technology company’s stock after acquiring an additional 24,080 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.30% of Avid worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. California Public Employees Retirement System increased its stake in shares of Avid by 19.0% in the 3rd quarter. California Public Employees Retirement System now owns 268,796 shares of the technology company’s stock worth $1,220,000 after acquiring an additional 42,996 shares in the last quarter. Royce & Associates LP increased its stake in shares of Avid by 71.6% in the 3rd quarter. Royce & Associates LP now owns 574,998 shares of the technology company’s stock worth $2,610,000 after acquiring an additional 240,000 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Avid by 28.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 199,265 shares of the technology company’s stock worth $905,000 after acquiring an additional 43,675 shares in the last quarter. Northern Trust Corp grew its position in Avid by 4.1% during the 2nd quarter. Northern Trust Corp now owns 379,522 shares of the technology company’s stock valued at $1,996,000 after purchasing an additional 15,086 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Avid during the 3rd quarter valued at about $109,000. Institutional investors own 74.70% of the company’s stock.

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AVID has been the topic of several recent analyst reports. ValuEngine raised shares of Avid from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. Zacks Investment Research downgraded shares of Avid from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Finally, Dougherty & Co downgraded shares of Avid from a “neutral” rating to a “sell” rating and set a $4.50 price objective on the stock. in a research report on Thursday, December 7th.

Shares of AVID stock opened at $4.54 on Friday. Avid has a one year low of $3.99 and a one year high of $7.65. The stock has a market cap of $188.32, a P/E ratio of 18.92 and a beta of 1.84. The company has a current ratio of 0.71, a quick ratio of 0.54 and a debt-to-equity ratio of -0.76.

Avid (NASDAQ:AVID) last announced its quarterly earnings data on Thursday, March 15th. The technology company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.25). Avid had a negative net margin of 3.24% and a negative return on equity of 3.59%. The firm had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $108.53 million. During the same period last year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. analysts forecast that Avid will post 0.09 EPS for the current year.

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Avid 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.

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Institutional Ownership by Quarter for Avid (NASDAQ:AVID)

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