Avid Technology, Inc. (OTCMKTS:AVID) CEO Louis Hernandez, Jr. acquired 136,653 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was acquired at an average cost of $4.99 per share, with a total value of $681,898.47. The purchase was disclosed in a filing with the SEC, which is available at this link.

Louis Hernandez, Jr. also recently made the following trade(s):

  • On Tuesday, June 13th, Louis Hernandez, Jr. acquired 141,447 shares of Avid Technology stock. The stock was acquired at an average cost of $5.00 per share, with a total value of $707,235.00.

Avid Technology, Inc. (OTCMKTS AVID) traded down 2.14% during trading on Friday, reaching $5.03. 397,130 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $5.28 and its 200-day moving average price is $5.03. Avid Technology, Inc. has a 52-week low of $3.99 and a 52-week high of $9.78. The company has a market capitalization of $205.59 million and a price-to-earnings ratio of 8.09.

Avid Technology (OTCMKTS:AVID) last released its quarterly earnings data on Wednesday, May 10th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $104.10 million during the quarter, compared to analyst estimates of $105.72 million. The company’s revenue for the quarter was down 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. Equities analysts expect that Avid Technology, Inc. will post $0.35 earnings per share for the current year.

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A number of equities analysts have commented on the stock. ValuEngine downgraded shares of Avid Technology from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Zacks Investment Research downgraded shares of Avid Technology from a “buy” rating to a “hold” rating in a report on Monday, May 29th.

Several hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Avid Technology during the fourth quarter worth about $5,093,000. State Street Corp boosted its stake in Avid Technology by 7.9% in the fourth quarter. State Street Corp now owns 487,441 shares of the technology company’s stock worth $2,146,000 after buying an additional 35,838 shares in the last quarter. Royce & Associates LP boosted its stake in Avid Technology by 31.6% in the fourth quarter. Royce & Associates LP now owns 716,666 shares of the technology company’s stock worth $3,153,000 after buying an additional 171,986 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Avid Technology by 4.1% in the fourth quarter. Renaissance Technologies LLC now owns 109,100 shares of the technology company’s stock worth $480,000 after buying an additional 4,300 shares in the last quarter. Finally, Ativo Capital Management LLC boosted its stake in Avid Technology by 25.4% in the fourth quarter. Ativo Capital Management LLC now owns 187,334 shares of the technology company’s stock worth $824,000 after buying an additional 38,000 shares in the last quarter.

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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