Taconic Capital Advisors LP increased its stake in shares of Avaya Holdings Corp (NYSE:AVYA) by 6.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,250,000 shares of the company’s stock after buying an additional 135,000 shares during the quarter. Avaya comprises 2.2% of Taconic Capital Advisors LP’s holdings, making the stock its 7th largest position. Taconic Capital Advisors LP owned 2.03% of Avaya worth $26,798,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. ARP Americas LP purchased a new stake in Avaya in the first quarter valued at $192,000. Xact Kapitalforvaltning AB purchased a new stake in Avaya in the second quarter valued at $138,000. Dfpg Investments Inc. purchased a new stake in Avaya in the second quarter valued at $187,000. FNY Investment Advisers LLC purchased a new stake in Avaya in the second quarter valued at $222,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Avaya in the second quarter valued at $238,000. Hedge funds and other institutional investors own 97.68% of the company’s stock.
Several research firms recently issued reports on AVYA. Citigroup set a $12.00 price objective on Avaya and gave the company a “hold” rating in a report on Monday, July 8th. Northland Securities set a $21.00 price objective on Avaya and gave the company a “buy” rating in a report on Wednesday, August 21st. Zacks Investment Research downgraded Avaya from a “hold” rating to a “strong sell” rating in a report on Thursday, August 15th. BWS Financial set a $22.00 price objective on Avaya and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price objective (down previously from $18.50) on shares of Avaya in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.88.
Avaya (NYSE:AVYA) last released its earnings results on Tuesday, August 13th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.37). Avaya had a positive return on equity of 15.31% and a negative net margin of 12.73%. The company had revenue of $720.00 million for the quarter, compared to analyst estimates of $715.96 million. During the same period in the previous year, the firm earned ($0.80) earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities analysts forecast that Avaya Holdings Corp will post 3.33 EPS for the current year.
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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