Notable Runner: Can Avid Technology, Inc.’s Tomorrow be Different? The Stock Declines Again

Notable Runner: Can Avid Technology, Inc.'s Tomorrow be Different? The Stock Declines Again

The stock of Avid Technology, Inc. (NASDAQ:AVID) is a huge mover today! About 4.02M shares traded hands or 997.49% up from the average. Avid Technology, Inc. (NASDAQ:AVID) has risen 5.69% since April 8, 2016 and is uptrending. It has outperformed by 0.04% the S&P500.
The move comes after 8 months negative chart setup for the $188.44M company. It was reported on Nov, 10 by Barchart.com. We have $3.94 PT which if reached, will make NASDAQ:AVID worth $24.50 million less.

Avid Technology, Inc. (NASDAQ:AVID) Ratings Coverage

Out of 3 analysts covering Avid Technology (NASDAQ:AVID), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Avid Technology has been the topic of 4 analyst reports since August 11, 2015 according to StockzIntelligence Inc. Dougherty & Company downgraded the shares of AVID in a report on Tuesday, August 11 to “Buy” rating. As per Wednesday, December 9, the company rating was initiated by Singular Research. The rating was maintained by BWS Financial on Wednesday, November 11 with “Buy”.

According to Zacks Investment Research, “Avid Technology, Inc. develops, markets, sells and supports a wide range of software and systems for creating and manipulating digital media content. Digital media are media elements, whether video or audio or graphics, in which the image, sound or picture is recorded and stored as digital values, as opposed to analog signals. The company’s systems are designed to improve the productivity of video and film editors by enabling them to edit moving pictures and sound in a faster, easier, and more cost-effective manner than traditional analog tape-based systems.”

Insitutional Activity: The institutional sentiment increased to 1.57 in 2016 Q2. Its up 0.40, from 1.17 in 2016Q1. The ratio is positive, as 8 funds sold all Avid Technology, Inc. shares owned while 20 reduced positions. 13 funds bought stakes while 31 increased positions. They now own 26.65 million shares or 21.23% less from 33.83 million shares in 2016Q1.
Oxford Asset last reported 0.04% of its portfolio in the stock. Bancorp Of Montreal Can has invested 0% of its portfolio in Avid Technology, Inc. (NASDAQ:AVID). Thompson Davis Company has 0.27% invested in the company for 29,100 shares. Jpmorgan Chase & owns 7,957 shares or 0% of their US portfolio. Advsrs Asset Management Incorporated last reported 32,772 shares in the company. The New York-based Tiaa Cref Mngmt Llc has invested 0% in Avid Technology, Inc. (NASDAQ:AVID). Barnett Inc has 100 shares for 0% of their US portfolio. Nationwide Fund Advsrs has invested 0% of its portfolio in Avid Technology, Inc. (NASDAQ:AVID). Prudential holds 0% of its portfolio in Avid Technology, Inc. (NASDAQ:AVID) for 179,700 shares. Northern last reported 0% of its portfolio in the stock. New York State Common Retirement Fund, a New York-based fund reported 29,500 shares. Van Den Berg Mgmt I accumulated 2.66M shares or 1.98% of the stock. Jefferies Grp Inc Ltd Company last reported 0.03% of its portfolio in the stock. The Massachusetts-based Geode Capital Mngmt Ltd Llc has invested 0% in Avid Technology, Inc. (NASDAQ:AVID). Petrus Trust Lta owns 37,938 shares or 0.05% of their US portfolio.

Insider Transactions: Since May 16, 2016, the stock had 3 insider purchases, and 2 sales for $4.41 million net activity. $101,492 worth of shares were bought by BOGGS PAULA on Thursday, June 2. HERNANDEZ LOUIS JR also bought $579,550 worth of Avid Technology, Inc. (NASDAQ:AVID) shares. Frederick John W. sold $4.16 million worth of stock.

More news for Avid Technology, Inc. (NASDAQ:AVID) were recently published by: Rttnews.com, which released: “Avid Technology Inc. (AVID) Has Tumbled To A New Low After Q3 Miss” on November 10, 2016. Fool.com‘s article titled: “Why Avid Technology, Inc. Stock Plummeted Tuesday” and published on August 11, 2015 is yet another important article.

AVID Company Profile

Avid Technology, Inc., incorporated on October 4, 1987, provides an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Firm develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution. The Company’s products are used in production and post-production facilities; film studios; network, affiliate, independent and cable television stations; recording studios; live-sound performance venues; advertising agencies; government and educational institutions; corporate communication departments, and by independent video and audio creative professionals, as well as aspiring professionals and enthusiasts. Projects produced using its products include feature films, television programs, live events, news broadcasts, commercials, music, video and other digital media content.

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