Chicago Equity Partners LLC raised its holdings in Avaya Holdings Corp (NYSE:AVYA) by 95.6% in the 4th quarter, Holdings Channel reports. The firm owned 176,220 shares of the company’s stock after purchasing an additional 86,115 shares during the quarter. Chicago Equity Partners LLC’s holdings in Avaya were worth $2,566,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Avaya by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 9,816,231 shares of the company’s stock worth $217,330,000 after purchasing an additional 225,882 shares during the period. Vanguard Group Inc. grew its stake in Avaya by 2.0% in the third quarter. Vanguard Group Inc. now owns 9,335,685 shares of the company’s stock valued at $206,693,000 after acquiring an additional 184,744 shares during the period. Vanguard Group Inc grew its stake in Avaya by 2.0% in the third quarter. Vanguard Group Inc now owns 9,335,685 shares of the company’s stock valued at $206,693,000 after acquiring an additional 184,744 shares during the period. BlackRock Inc. lifted its holdings in shares of Avaya by 0.7% in the third quarter. BlackRock Inc. now owns 7,259,420 shares of the company’s stock valued at $160,724,000 after purchasing an additional 52,915 shares in the last quarter. Finally, Benefit Street Partners LLC lifted its holdings in shares of Avaya by 9.1% in the fourth quarter. Benefit Street Partners LLC now owns 3,283,372 shares of the company’s stock valued at $47,806,000 after purchasing an additional 273,218 shares in the last quarter. Hedge funds and other institutional investors own 99.68% of the company’s stock.
Several analysts recently issued reports on AVYA shares. Morgan Stanley assumed coverage on Avaya in a report on Monday, January 7th. They set an “equal weight” rating and a $18.50 target price on the stock. Barclays upgraded Avaya from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $21.00 in a research note on Friday, January 25th. Zacks Investment Research lowered Avaya from a “hold” rating to a “sell” rating in a research note on Wednesday, January 9th. Finally, Goldman Sachs Group assumed coverage on Avaya in a research note on Monday, December 17th. They issued a “neutral” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Avaya presently has a consensus rating of “Hold” and an average target price of $22.58.
Shares of NYSE:AVYA opened at $16.18 on Thursday. Avaya Holdings Corp has a 1 year low of $13.96 and a 1 year high of $23.76. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 1.51.
Avaya (NYSE:AVYA) last issued its quarterly earnings results on Monday, February 11th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.09). The company had revenue of $738.00 million for the quarter, compared to analyst estimates of $761.50 million. Avaya had a return on equity of 185.96% and a net margin of 114.49%. On average, research analysts forecast that Avaya Holdings Corp will post 3.55 earnings per share for the current fiscal 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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