Paloma Partners Management Co Invests $691,000 in Avaya Holdings Corp (NYSE:AVYA)

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Paloma Partners Management Co bought a new stake in Avaya Holdings Corp (NYSE:AVYA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,400 shares of the company’s stock, valued at approximately $691,000.

Several other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Avaya during the 2nd quarter worth $104,000. Citigroup Inc. acquired a new position in shares of Avaya during the 1st quarter worth $119,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Avaya during the 1st quarter worth $122,000. BNP Paribas Arbitrage SA acquired a new position in shares of Avaya during the 2nd quarter worth $123,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Avaya during the 2nd quarter worth $157,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Shares of AVYA traded down $0.51 during mid-day trading on Friday, reaching $18.72. 1,240,598 shares of the stock traded hands, compared to its average volume of 1,134,033. Avaya Holdings Corp has a 12-month low of $15.63 and a 12-month high of $23.76. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 1.80.

Avaya (NYSE:AVYA) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($1.57). The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $754.00 million. Avaya had a net margin of 104.03% and a return on equity of 4,097.00%. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Avaya Holdings Corp will post 2.4 EPS for the current year.

AVYA has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Avaya from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Citigroup started coverage on shares of Avaya in a research note on Friday, August 31st. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Barclays started coverage on shares of Avaya in a research note on Friday, October 5th. They issued an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.25.

Avaya Company Profile

Avaya Holdings Corp. operates as a holding company which through its subsidiary, develops business collaboration and communications solutions worldwide. The company was formerly known as Sierra Holdings Corp. The company was incorporated in 2007 and is based in Santa Clara, California.

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Institutional Ownership by Quarter for Avaya (NYSE:AVYA)

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