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.

Avaya (NYSE:AVYA) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. Avaya had a return on equity of 15.77% and a net margin of 6.12%. The business had revenue of $714.00 million during the quarter, compared to analysts’ expectations of $748.47 million. The firm’s revenue was down 5.7% compared to the same quarter last year. On average, equities analysts predict that Avaya Holdings Corp will post 3.16 earnings per share for the current year.

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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About Avaya

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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Institutional Ownership by Quarter for Avaya (NYSE:AVYA)

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