Avaya Holdings Corp (AVYA) Position Boosted by Prescott Group Capital Management L.L.C.
Prescott Group Capital Management L.L.C. increased its stake in shares of Avaya Holdings Corp (NYSE:AVYA) by 8.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 701,408 shares of the company’s stock after acquiring 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.’s holdings in Avaya were worth $11,805,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new stake in Avaya during the fourth quarter worth $26,000. Public Employees Retirement System of Ohio increased its stake in Avaya by 57.8% during the fourth 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Avaya by 24.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,585 shares of the company’s stock worth $110,000 after acquiring an additional 1,506 shares during the last quarter. Water Island Capital LLC acquired a new stake in Avaya during the fourth quarter worth $135,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in Avaya during the fourth quarter worth $144,000. Hedge funds and other institutional investors own 99.96% of the company’s stock.
Shares of NYSE AVYA traded up $0.23 during trading on Tuesday, reaching $12.40. The stock had a trading volume of 3,056 shares, compared to its average volume of 1,952,857. Avaya Holdings Corp has a fifty-two week low of $11.94 and a fifty-two week high of $23.40. The company has a current ratio of 1.37, a quick ratio of 1.31 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $1.39 billion, a PE ratio of 4.40 and a beta of 2.00.
AVYA has been the subject of several recent analyst reports. Northland Securities reissued a “buy” rating and set a $21.00 target price on shares of Avaya in a research note on Friday, May 10th. Guggenheim initiated coverage on Avaya in a research note on Monday, March 11th. They set a “buy” rating and a $22.00 target price for the company. Zacks Investment Research raised Avaya from a “sell” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, February 5th. Finally, BWS Financial cut their target price on Avaya from $32.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $21.06.
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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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