Avid Technology INC (AVID) Shareholder Cove Street Capital LLC Decreased Stake by $3.23 Million

May 3, 2018 - By Alice Reed

Avid Technology, Inc. (NASDAQ:AVID) Corporate LogoBig Money Sentiment increased to 1.41 in Q4 2017. It has change of 0.41, from 2017Q3’s 1. The ratio is positive due to AVID positioning: 15 sold and 22 reduced. 24 funds acquired stakes and 28 increased stakes. Investors holded 28.25 million in 2017Q3 but now own 29.89 million shares or 5.81% more. Rhumbline Advisers holds 0% or 33,707 shs. Blackrock Inc reported 2.04 million shs. Manufacturers Life Insur The stated it has 27,228 shs or 0% of all its holdings. State Street stated it has 0% in Avid Technology, Inc. (NASDAQ:AVID). Ameritas Inv Prtn stated it has 0% of its capital in Avid Technology, Inc. (NASDAQ:AVID). Oppenheimer Asset Inc has invested 0.02% in Avid Technology, Inc. (NASDAQ:AVID). Cubist Systematic Strategies Ltd Liability stated it has 0% of its capital in Avid Technology, Inc. (NASDAQ:AVID). 65,600 are owned by Cornerstone Ltd Com. Parametric Limited Liability Com has invested 0% of its capital in Avid Technology, Inc. (NASDAQ:AVID). Moreover, Bridgeway Mngmt Inc has 0.01% invested in Avid Technology, Inc. (NASDAQ:AVID). Teton Advsr stated it has 110,000 shs or 0.05% of all its holdings. Voya Inv Mngmt Ltd Liability Co owns 17,782 shs. Rmb Cap Mgmt Ltd Liability accumulated 17,900 shs or 0% of the stock. Goldman Sachs has invested 0% in Avid Technology, Inc. (NASDAQ:AVID). Ameriprise Financial holds 0% or 31,786 shs.

In 2017Q4 Securities and Exchange filling is reported Jeffrey Bronchick’s stake in Avid Technology Inc (AVID) which was reduced by 9.52%. The company’s stock sank 24.79% while Cove Street Capital Llc sold 646,369 shares. At the end of 2017Q4, the hedge fund run by Jeffrey Bronchick held 6.15M shares of the miscellaneous company, valued at $33.12M, down from 6.79M at the end of the previous reported quarter. $201.18M is the MC of Avid Technology Inc. The stock increased 1.04% or $0.05 during the last trading session, touching $4.85.Currently Avid Technology, Inc. is downtrending after 3.49% change in last May 3, 2017. AVID has 141,686 shares volume. AVID underperformed by 15.04% the S&P 500.

Cove Street Capital Llc manages about $763.78 million and $926.82M US Long portfolio. Its stake in E.W. Scripps Company (NYSE:SSP) was rose by 715,090 shares to 3.14M shares valued at $49.03 million in 2017Q4, according to the filing. For a total of 726,768 shares it increased its holding in Millicom International Cellular (MIICF) by 105,570 shares in the quarter, and has risen its stake in Centurylink Inc (NYSE:CTL).

On May, 9. Investors wait Avid Technology, Inc. (NASDAQ:AVID) to report its quarterly earnings, according to RTT. Analysts forecast 450.00 % diference or $0.11 from the $0.02 EPS from 2017. If EPS of $0.11 is published the profit of AVID could hit $4.56M giving it 11.02 P/E. Wall Street forecasts -26.67 % negative EPS growth as of May, 9.

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