River Road Asset Management LLC recently announced the acquisition of new stake in Avaya Holdings Corp. (NYSE:AVYA). The institutional investor has increased its shareholding in the Technology company by 12.14% to 4.45 million shares with purchase of 0.48 million shares. This fresh investment now brings its stake to 5.37% valued currently at $56.29 million. In addition, Victory Capital Management, Inc.. raised its holdings by 0.19 million to 4.12 million shares. And Melqart Asset Management (UK) Ltd.. has lifted its position by 4.30% or 0.14 million shares – to 3.42 million shares.
With over 1.58 million Avaya Holdings Corp. (AVYA) shares trading Tuesday and a closing price of $16.36 on the day, the dollar volume was approximately $25.93 million. The shares have shown a positive weekly performance of 4.34% and its price on 09/01/20 gained nearly 5.41%. Currently, there are 83.10M common shares owned by the public and among those 81.48M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for AVYA have a consensus price objective of $19.67. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $17.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Avaya Holdings Corp. stock is 2.10 for the next 12 months. The average price target is 15.8% above its last price level and an upside to the estimated low will see the stock gain 3.76% over that period. But an upside of 25.64% will see the stock hit the forecast high price target while mean target price for the stock is $20.00.
Insiders at the company have transacted a total of 53 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 1,296,830 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 347,257 shares.
The top 3 mutual fund holders in Avaya Holdings Corp. are Vanguard Total Stock Market Index, Victory RS Small Cap Growth Fund, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 2.39 million shares of the company’s stock, all valued at over $30.29 million. The company sold 2942.0 shares recently to bring their total holdings to about 2.89% of the shares outstanding. Vanguard Small Cap Index Fund sold 11980.0 shares to bring its total holdings to over 2.06 million shares at a value of $26.12 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.49% of the shares outstanding.
Shares of Avaya Holdings Corp. (NYSE: AVYA) opened at $15.78, up $0.26 from a prior closing price of $15.52. However, the script later closed the day at $16.36, up 5.41%. The company’s stock has a 5-day price change of 4.34% and 14.89% over the past three months. AVYA shares are trading 21.19% year to date (YTD), with the 12-month market performance up to 19.77% higher. It has a 12-month low price of $6.13 and touched a high of $16.91 over the same period. Currently, 1.58 million shares have been traded, compared to an average intraday trading volume of 1.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.04%, 19.81%, and 33.61% respectively.
Institutional ownership of Avaya Holdings Corp. (NYSE: AVYA) 83.10M shares outstanding. Mutual fund holders own 44.32%, while other institutional holders and individual stakeholders account for 68.96% and 1.76% respectively.
It has a market capitalization of $1.32B. The earnings-per-share (ttm) stands at -$7.89. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.86% over the week and 3.99% over the month.
Analysts forecast that Avaya Holdings Corp. (AVYA) will achieve an EPS of $1.22 for the current quarter, $1.2 for the next quarter and $4.8 for 2021. The lowest estimate earnings-per-share for the quarter is $0.97 while analysts give the company a high EPS estimate of $1.93. Comparatively, EPS for the current quarter was $0.71 a year ago. Earnings per share for the fiscal year are expected to decrease by -122.20%, and 24.88% over the next financial year. EPS should grow at an annualized rate of 6.30% over the next five years, compared to -52.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Avaya Holdings Corp. (AVYA) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 1 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AVYA, a number of firms have released research notes about the stock. Colliers Securities stated their Buy rating for the stock in a research note on September 01, 2020, with the firm’s price target at $22. JP Morgan coverage for the Avaya Holdings Corp. (AVYA) stock in a research note released on April 23, 2020 offered a Overweight rating with a price target of $11. Morgan Stanley was of a view on March 16, 2020 that the stock is Overweight, while Goldman gave the stock Buy rating on January 21, 2020, issuing a price target of $16- $18. Guggenheim on their part issued Buy rating on March 12, 2019.