Avaya Target of Unusually Large Options Trading (NYSE:AVYA)

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Avaya Holdings Corp. (NYSE:AVYAGet Rating) saw some unusual options trading activity on Friday. Investors purchased 56,290 put options on the company. This represents an increase of 364% compared to the typical daily volume of 12,129 put options.

Insider Buying and Selling at Avaya

In related news, major shareholder Theodore Walker Cheng-De King acquired 2,000,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was bought at an average cost of $0.68 per share, with a total value of $1,360,000.00. Following the transaction, the insider now directly owns 10,998,750 shares in the company, valued at $7,479,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AVYA. Capital World Investors increased its stake in shares of Avaya by 123.2% during the fourth quarter. Capital World Investors now owns 6,038,354 shares of the company’s stock worth $119,559,000 after purchasing an additional 3,333,354 shares during the period. Contour Asset Management LLC boosted its holdings in shares of Avaya by 40.0% in the 4th quarter. Contour Asset Management LLC now owns 6,195,839 shares of the company’s stock valued at $122,678,000 after purchasing an additional 1,769,074 shares in the last quarter. Voss Capital LLC boosted its holdings in shares of Avaya by 153.1% in the 2nd quarter. Voss Capital LLC now owns 2,594,322 shares of the company’s stock valued at $5,811,000 after purchasing an additional 1,569,268 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its holdings in shares of Avaya by 351.6% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 1,778,384 shares of the company’s stock valued at $3,984,000 after purchasing an additional 1,384,631 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of Avaya in the 2nd quarter valued at $3,039,000.

Analysts Set New Price Targets

AVYA has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price objective on shares of Avaya from $8.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Craig Hallum lowered shares of Avaya from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Citigroup lowered their price objective on shares of Avaya from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.22.

Avaya Stock Up 10.6 %

AVYA opened at $1.88 on Friday. Avaya has a fifty-two week low of $0.60 and a fifty-two week high of $22.47. The business has a 50-day moving average of $1.51 and a 200-day moving average of $5.84. The company has a debt-to-equity ratio of 6.54, a current ratio of 1.66 and a quick ratio of 1.61. The company has a market capitalization of $161.38 million, a PE ratio of -0.11 and a beta of 1.08.

Avaya (NYSE:AVYAGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.29). The company had revenue of $577.00 million during the quarter, compared to analyst estimates of $575.88 million. Avaya had a negative net margin of 53.11% and a positive return on equity of 32.42%. Avaya’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. Equities research analysts forecast that Avaya will post -0.07 EPS for the current fiscal year.

Avaya Company Profile

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Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates in two segments, Products & Solutions and Services. The Products & Solutions segment offers unified communications and collaboration (UCC), and contact center (CC) platforms, applications, and devices.

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