Prescott Group Capital Management L.L.C. lifted its position in shares of Avaya Holdings Corp (NYSE:AVYA) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 701,408 shares of the company’s stock after purchasing an additional 55,698 shares during the quarter. Avaya makes up about 2.4% of Prescott Group Capital Management L.L.C.’s investment portfolio, making the stock its 10th largest position. Prescott Group Capital Management L.L.C. owned 0.63% of Avaya worth $11,805,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Raymond James Trust N.A. increased its stake in shares of Avaya by 7.9% during the fourth quarter. Raymond James Trust N.A. now owns 11,355 shares of the company’s stock worth $166,000 after purchasing an additional 832 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Avaya by 57.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,363 shares of the company’s stock worth $49,000 after acquiring an additional 1,232 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Avaya by 24.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,585 shares of the company’s stock valued at $110,000 after buying an additional 1,506 shares in the last quarter. Strs Ohio increased its position in Avaya by 3.0% in the 4th quarter. Strs Ohio now owns 58,200 shares of the company’s stock valued at $847,000 after buying an additional 1,700 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Avaya during the 4th quarter valued at about $26,000. 99.96% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on AVYA. Northland Securities restated a “buy” rating and issued a $21.00 target price on shares of Avaya in a research note on Friday, May 10th. Guggenheim initiated coverage on shares of Avaya in a research report on Monday, March 11th. They issued a “buy” rating and a $22.00 target price for the company. BWS Financial cut their price target on shares of Avaya from $32.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, May 10th. Finally, Zacks Investment Research upgraded shares of Avaya from a “strong sell” rating to a “hold” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $21.06.
AVYA stock traded up $0.03 on Wednesday, hitting $11.44. The company had a trading volume of 2,869,885 shares, compared to its average volume of 1,473,385. The company has a market capitalization of $1.33 billion, a PE ratio of 4.21 and a beta of 2.00. Avaya Holdings Corp has a 12-month low of $11.10 and a 12-month high of $23.40. The company has a 50-day moving average of $13.16. The company has a current ratio of 1.37, a quick ratio of 1.31 and a debt-to-equity ratio of 1.45.
Avaya (NYSE:AVYA) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. The firm had revenue of $714.00 million during the quarter, compared to analysts’ expectations of $748.47 million. Avaya had a net margin of 6.12% and a return on equity of 15.77%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. Analysts anticipate that Avaya Holdings Corp will post 3.17 earnings per share for the current year.
Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates through two segments, Products & Solutions, and Services. The Products & Solutions segment offers unified communications and contact center platforms, applications, and devices.
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