Avid Technology, Inc. (AVID) Reaches $4.58 After 9.00% Down Move; Mcdermott International (MDR) Sellers Increased By 2.68% Their Shorts

August 9, 2017 - By Stephen Andrade

The stock of Avid Technology, Inc. (NASDAQ:AVID) is a huge mover today! About 74,289 shares traded. Avid Technology, Inc. (NASDAQ:AVID) has declined 5.06% since August 9, 2016 and is downtrending. It has underperformed by 21.76% the S&P500.The move comes after 7 months negative chart setup for the $188.37 million company. It was reported on Aug, 9 by Barchart.com. We have $4.17 PT which if reached, will make NASDAQ:AVID worth $16.95M less.

Mcdermott International (NYSE:MDR) had an increase of 2.68% in short interest. MDR’s SI was 7.80M shares in August as released by FINRA. Its up 2.68% from 7.59M shares previously. With 2.34M avg volume, 3 days are for Mcdermott International (NYSE:MDR)’s short sellers to cover MDR’s short positions. The SI to Mcdermott International’s float is 3.27%. About 590,509 shares traded. McDermott International (NYSE:MDR) has risen 47.07% since August 9, 2016 and is uptrending. It has outperformed by 30.37% the S&P500.

Investors sentiment decreased to 0.86 in Q4 2016. Its down 0.69, from 1.55 in 2016Q3. It dived, as 29 investors sold Avid Technology, Inc. shares while 22 reduced holdings. 13 funds opened positions while 31 raised stakes. 27.40 million shares or 4.90% less from 28.81 million shares in 2016Q3 were reported. Strs Ohio has invested 0% in Avid Technology, Inc. (NASDAQ:AVID). Gsa Cap Prtnrs Llp invested in 0.07% or 253,547 shares. 109,986 were reported by Susquehanna Int Gp Limited Liability Partnership. Advsrs Asset Inc has invested 0% in Avid Technology, Inc. (NASDAQ:AVID). Legal General Group Public Ltd Liability Co owns 9,561 shares or 0% of their US portfolio. Pennsylvania-based Nationwide Fund Advsrs has invested 0% in Avid Technology, Inc. (NASDAQ:AVID). Deutsche Financial Bank Ag invested in 28,652 shares. 2.34 million are owned by Vanguard Gru. Investment Counsel Inc accumulated 0.02% or 10,002 shares. Moreover, Blackrock Fund Advisors has 0% invested in Avid Technology, Inc. (NASDAQ:AVID). California State Teachers Retirement Sys accumulated 66,159 shares or 0% of the stock. Highbridge Cap Lc has invested 0.01% in Avid Technology, Inc. (NASDAQ:AVID). West Coast Limited Company invested in 414,311 shares or 0.58% of the stock. American Grp owns 18,489 shares. Blum Cap Prtnrs Ltd Partnership invested in 6.56M shares or 100% of the stock.

Since June 2, 2017, it had 2 buys, and 1 insider sale for $1.34 million activity. Another trade for 9,500 shares valued at $48,717 was sold by Murray Ryan H. On Tuesday, June 13 the insider HERNANDEZ LOUIS JR bought $707,079.

Among 3 analysts covering Avid Technology (NASDAQ:AVID), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Avid Technology has $11 highest and $5 lowest target. $6.75’s average target is 47.38% above currents $4.58 stock price. Avid Technology had 5 analyst reports since August 11, 2015 according to SRatingsIntel. The company was maintained on Wednesday, November 11 by BWS Financial. On Wednesday, December 9 the stock rating was initiated by Singular Research with “Buy”. The firm has “Buy” rating given on Tuesday, August 11 by Dougherty & Company. The stock has “Hold” rating by BWS Financial on Thursday, November 10.

Avid Technology, Inc. is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The company has market cap of $188.37 million. The Firm develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution. It has a 108.3 P/E ratio. The Company’s products are used in production and post-production facilities; film studios; network, affiliate, independent and cable television stations; recording studios; live-sound performance venues; advertising agencies; government and educational institutions; corporate communication departments, and by independent video and audio creative professionals, as well as aspiring professionals and enthusiasts.

Investors sentiment decreased to 0.93 in Q4 2016. Its down 0.30, from 1.23 in 2016Q3. It worsened, as 34 investors sold McDermott International shares while 80 reduced holdings. 38 funds opened positions while 68 raised stakes. 190.39 million shares or 0.63% less from 191.59 million shares in 2016Q3 were reported. Bnp Paribas Arbitrage Sa owns 0% invested in McDermott International (NYSE:MDR) for 21,297 shares. Tower Rech Cap Ltd Liability Co (Trc) reported 7,950 shares. Investment Management Of Virginia holds 1.86 million shares or 3.28% of its portfolio. Moreover, Susquehanna Interest Llp has 0% invested in McDermott International (NYSE:MDR). Dimensional Fund L P reported 13.80M shares. Virtu Financial Lc has 17,338 shares. Qs Invsts Ltd Limited Liability Company has invested 0.05% of its portfolio in McDermott International (NYSE:MDR). Blackrock Institutional Tru Communication Na, a California-based fund reported 6.92 million shares. 10,000 are owned by Ellington Mngmt Grp Ltd Liability Company. Da Davidson reported 16,344 shares or 0% of all its holdings. Hutchin Hill Capital L P has invested 0.02% in McDermott International (NYSE:MDR). 13,344 were accumulated by Raymond James Fin Ser Advsrs. Mcdaniel Terry invested in 10,850 shares or 0.02% of the stock. Fairpointe Capital Ltd holds 16.25M shares. Hightower Advsrs Llc stated it has 15,396 shares or 0% of all its holdings.