Federated Hermes Inc. Sells 56,376 Shares of Avaya Holdings Corp. (NYSE:AVYA)

Federated Hermes Inc. lessened its stake in Avaya Holdings Corp. (NYSE:AVYA) by 13.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 363,347 shares of the company’s stock after selling 56,376 shares during the period. Federated Hermes Inc.’s holdings in Avaya were worth $10,185,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FMR LLC acquired a new stake in Avaya during the 1st quarter worth $20,120,000. First Trust Advisors LP grew its holdings in Avaya by 20.4% during the 1st quarter. First Trust Advisors LP now owns 146,131 shares of the company’s stock worth $2,459,000 after acquiring an additional 24,764 shares during the period. Los Angeles Capital Management LLC grew its holdings in Avaya by 29.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 81,164 shares of the company’s stock worth $1,554,000 after acquiring an additional 18,305 shares during the period. Aperio Group LLC grew its holdings in Avaya by 3.4% during the 4th quarter. Aperio Group LLC now owns 20,184 shares of the company’s stock worth $387,000 after acquiring an additional 671 shares during the period. Finally, Sei Investments Co. grew its holdings in Avaya by 26.8% during the 4th quarter. Sei Investments Co. now owns 575,365 shares of the company’s stock worth $11,018,000 after acquiring an additional 121,584 shares during the period.

Separately, Zacks Investment Research lowered shares of Avaya from a “hold” rating to a “strong sell” rating in a report on Friday, May 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $28.27.

AVYA opened at $26.64 on Friday. The company has a market cap of $2.25 billion, a PE ratio of 9.72 and a beta of 1.66. Avaya Holdings Corp. has a 12 month low of $11.45 and a 12 month high of $34.06. The company has a fifty day moving average of $27.92. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 9.46.

Avaya (NYSE:AVYA) last posted its quarterly earnings data on Wednesday, May 5th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.01). The company had revenue of $738.00 million during the quarter, compared to the consensus estimate of $717.52 million. Avaya had a negative net margin of 0.54% and a positive return on equity of 100.08%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($7.24) earnings per share. As a group, equities research analysts predict that Avaya Holdings Corp. will post -0.49 EPS for the current fiscal year.

Avaya Company Profile

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.

See Also: FAANG Stocks

Want to see what other hedge funds are holding AVYA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avaya Holdings Corp. (NYSE:AVYA).

Institutional Ownership by Quarter for Avaya (NYSE:AVYA)

Receive News & Ratings for Avaya Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avaya and related companies with MarketBeat.com's FREE daily email newsletter.