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.

A number of large investors have recently made changes to their positions in the stock. Cove Street Capital LLC increased its stake in Avid Technology by 9.2% in the second quarter. Cove Street Capital LLC now owns 6,105,539 shares of the technology company’s stock valued at $32,115,000 after acquiring an additional 513,877 shares during the last quarter. Vanguard Group Inc. increased its stake in Avid Technology by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,373,218 shares of the technology company’s stock valued at $11,059,000 after acquiring an additional 35,225 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Avid Technology by 13.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,909,953 shares of the technology company’s stock valued at $10,047,000 after acquiring an additional 229,071 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Avid Technology by 11.8% in the second quarter. Russell Investments Group Ltd. now owns 1,518,584 shares of the technology company’s stock valued at $7,987,000 after acquiring an additional 159,938 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Avid Technology by 71.6% in the third quarter. Royce & Associates LP now owns 574,998 shares of the technology company’s stock valued at $2,610,000 after acquiring an additional 240,000 shares during the last quarter. 71.77% of the stock is currently owned by institutional investors and hedge funds.

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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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