Prudential Financial Inc. Sells 2,360 Shares of Avaya Holdings Corp (NYSE:AVYA)

Prudential Financial Inc. lowered its holdings in shares of Avaya Holdings Corp (NYSE:AVYA) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 408,161 shares of the company’s stock after selling 2,360 shares during the period. Prudential Financial Inc. owned about 0.37% of Avaya worth $4,860,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AVYA. Millennium Management LLC bought a new position in shares of Avaya during the 4th quarter valued at $152,000. Geode Capital Management LLC grew its holdings in shares of Avaya by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 1,096,755 shares of the company’s stock valued at $15,968,000 after purchasing an additional 59,489 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Avaya by 252.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 24,340 shares of the company’s stock valued at $410,000 after purchasing an additional 17,433 shares during the last quarter. IndexIQ Advisors LLC bought a new position in shares of Avaya during the 1st quarter valued at $1,561,000. Finally, Laurion Capital Management LP bought a new position in shares of Avaya during the 1st quarter valued at $833,000.

Avaya stock traded down $0.21 during trading hours on Friday, reaching $11.32. The stock had a trading volume of 25,380 shares, compared to its average volume of 2,700,106. The stock has a market cap of $1.48 billion, a PE ratio of 4.94 and a beta of 1.57. Avaya Holdings Corp has a 52 week low of $10.23 and a 52 week high of $22.49. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.41 and a quick ratio of 1.35. The company has a fifty day simple moving average of $12.51 and a 200-day simple moving average of $14.07.



Avaya (NYSE:AVYA) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.37). The firm had revenue of $720.00 million during the quarter, compared to the consensus estimate of $715.96 million. Avaya had a positive return on equity of 15.31% and a negative net margin of 12.73%. Avaya’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the business earned ($0.80) EPS. Research analysts predict that Avaya Holdings Corp will post 3.33 earnings per share for the current fiscal year.

Several equities analysts recently commented on AVYA shares. Zacks Investment Research lowered shares of Avaya from a “hold” rating to a “strong sell” rating in a report on Thursday, August 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $14.00 target price (down previously from $18.50) on shares of Avaya in a report on Wednesday, August 14th. Citigroup set a $12.00 price target on shares of Avaya and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, Northland Securities set a $21.00 price target on shares of Avaya and gave the stock a “buy” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Avaya currently has a consensus rating of “Hold” and an average target price of $18.88.

About Avaya

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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Institutional Ownership by Quarter for Avaya (NYSE:AVYA)

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