Prudential Financial Inc. cut its stake in Avaya Holdings Corp (NYSE:AVYA) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 408,161 shares of the company’s stock after selling 2,360 shares during the quarter. Prudential Financial Inc.’s holdings in Avaya were worth $4,860,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in AVYA. AEGON USA Investment Management LLC grew its position in Avaya by 2.4% during the second quarter. AEGON USA Investment Management LLC now owns 172,284 shares of the company’s stock valued at $2,052,000 after buying an additional 4,100 shares during the period. Swiss National Bank grew its position in Avaya by 2.7% during the second quarter. Swiss National Bank now owns 205,900 shares of the company’s stock valued at $2,452,000 after buying an additional 5,500 shares during the period. Millennium Management LLC bought a new stake in Avaya during the fourth quarter valued at approximately $152,000. Strs Ohio grew its position in Avaya by 16.3% during the second quarter. Strs Ohio now owns 75,000 shares of the company’s stock valued at $893,000 after buying an additional 10,500 shares during the period. Finally, Menta Capital LLC grew its position in Avaya by 81.3% during the second quarter. Menta Capital LLC now owns 23,474 shares of the company’s stock valued at $280,000 after buying an additional 10,527 shares during the period.
NYSE:AVYA traded down $0.21 during trading hours on Friday, hitting $11.32. 25,380 shares of the stock traded hands, compared to its average volume of 2,700,106. The company has a quick ratio of 1.35, a current ratio of 1.41 and a debt-to-equity ratio of 2.10. Avaya Holdings Corp has a 1 year low of $10.23 and a 1 year high of $22.49. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 4.94 and a beta of 1.57. The stock has a 50 day moving average price of $12.51 and a 200 day moving average price of $14.07.
Avaya (NYSE:AVYA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.37). Avaya had a negative net margin of 12.73% and a positive return on equity of 15.31%. The firm had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $715.96 million. During the same period in the prior year, the firm earned ($0.80) EPS. Avaya’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities analysts forecast that Avaya Holdings Corp will post 3.33 earnings per share for the current fiscal year.
Several brokerages recently issued reports on AVYA. Morgan Stanley restated an “equal weight” rating and set a $14.00 target price (down from $18.50) on shares of Avaya in a research report on Wednesday, August 14th. Northland Securities set a $21.00 target price on shares of Avaya and gave the company a “buy” rating in a research report on Wednesday, August 21st. Citigroup set a $12.00 target price on shares of Avaya and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, Zacks Investment Research lowered shares of Avaya from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $18.88.
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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