Blum Capital Partners LP held its stake in shares of Avid Technology, Inc. (OTCMKTS:AVID) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,555,367 shares of the technology company’s stock at the close of the second quarter. Avid Technology accounts for approximately 100.0% of Blum Capital Partners LP’s portfolio, making the stock its largest position. Blum Capital Partners LP owned about 15.94% of Avid Technology worth $34,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AVID. Petrus Trust Company LTA purchased a new stake in Avid Technology in the second quarter worth approximately $105,000. Voya Investment Management LLC boosted its stake in Avid Technology by 25.6% in the second quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock worth $109,000 after buying an additional 4,220 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in Avid Technology in the second quarter worth approximately $140,000. Goldman Sachs Group Inc. purchased a new stake in Avid Technology in the first quarter worth approximately $133,000. Finally, SG Americas Securities LLC purchased a new stake in Avid Technology in the first quarter worth approximately $138,000.

Avid Technology, Inc. (AVID) traded down 1.94% during mid-day trading on Friday, hitting $4.54. The stock had a trading volume of 103,665 shares. Avid Technology, Inc. has a 12 month low of $3.99 and a 12 month high of $8.18. The stock has a market cap of $186.73 million and a price-to-earnings ratio of 116.41. The stock’s 50-day moving average price is $4.49 and its 200-day moving average price is $4.96.

Several analysts have issued reports on AVID shares. ValuEngine lowered Avid Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered Avid Technology from a “hold” rating to a “sell” rating in a research note on Friday, August 11th.

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Avid Technology Company Profile

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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Institutional Ownership by Quarter for Avid Technology (OTCMKTS:AVID)

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