Insider Buying: Avid Technology, Inc. (AVID) Director Purchases 20,000 Shares of Stock
Avid Technology, Inc. (NASDAQ:AVID) Director Robert M. Bakish bought 20,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $120,000.00. Following the completion of the acquisition, the director now directly owns 693,058 shares of the company’s stock, valued at approximately $4,158,348. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Avid Technology, Inc. (NASDAQ AVID) traded down $0.55 during trading hours on Thursday, reaching $5.95. 1,331,378 shares of the company were exchanged, compared to its average volume of 402,109. The company has a market capitalization of $278.42, a PE ratio of 18.78 and a beta of 1.78. The company has a debt-to-equity ratio of -0.71, a current ratio of 0.65 and a quick ratio of 0.46. Avid Technology, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $7.65.
Several research analysts have recently commented on AVID shares. ValuEngine raised shares of Avid Technology from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. Zacks Investment Research cut shares of Avid Technology from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Dougherty & Co cut shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 price objective on the stock. in a research note on Thursday.
ILLEGAL ACTIVITY NOTICE: “Insider Buying: Avid Technology, Inc. (AVID) Director Purchases 20,000 Shares of Stock” was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/07/insider-buying-avid-technology-inc-avid-director-purchases-20000-shares-of-stock.html.
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.
Receive News & Ratings for Avid Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avid Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.