Citigroup Inc. Acquires 34,418 Shares of Avaya Holdings Corp (AVYA)

Citigroup Inc. boosted its stake in shares of Avaya Holdings Corp (NYSE:AVYA) by 445.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,140 shares of the company’s stock after buying an additional 34,418 shares during the quarter. Citigroup Inc.’s holdings in Avaya were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Avaya by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 9,816,231 shares of the company’s stock worth $217,330,000 after purchasing an additional 225,882 shares during the period. Vanguard Group Inc. raised its stake in Avaya by 2.0% during the third quarter. Vanguard Group Inc. now owns 9,335,685 shares of the company’s stock worth $206,693,000 after purchasing an additional 184,744 shares during the period. Vanguard Group Inc raised its stake in Avaya by 2.0% during the third quarter. Vanguard Group Inc now owns 9,335,685 shares of the company’s stock worth $206,693,000 after purchasing an additional 184,744 shares during the period. BlackRock Inc. raised its stake in Avaya by 2.9% during the fourth quarter. BlackRock Inc. now owns 7,469,484 shares of the company’s stock worth $108,756,000 after purchasing an additional 210,064 shares during the period. Finally, Benefit Street Partners LLC raised its stake in Avaya by 9.1% during the fourth quarter. Benefit Street Partners LLC now owns 3,283,372 shares of the company’s stock worth $47,806,000 after purchasing an additional 273,218 shares during the period. Institutional investors own 98.70% of the company’s stock.

Several equities research analysts have recently issued reports on AVYA shares. Morgan Stanley started coverage on shares of Avaya in a research report on Monday, January 7th. They issued an “equal weight” rating and a $18.50 price objective for the company. Barclays raised shares of Avaya from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $20.00 to $21.00 in a research report on Friday, January 25th. Zacks Investment Research lowered shares of Avaya from a “hold” rating to a “sell” rating in a research report on Wednesday, January 9th. Guggenheim started coverage on shares of Avaya in a research report on Monday, March 11th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Goldman Sachs Group started coverage on shares of Avaya in a research report on Monday, December 17th. They issued a “neutral” rating and a $20.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Avaya currently has a consensus rating of “Hold” and an average target price of $20.92.

AVYA traded up $0.31 during trading hours on Monday, reaching $18.69. 1,087,737 shares of the stock traded hands, compared to its average volume of 1,402,760. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 6.62 and a beta of 1.40. Avaya Holdings Corp has a fifty-two week low of $12.89 and a fifty-two week high of $23.64. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.45.

Avaya (NYSE:AVYA) last released its quarterly earnings results on Monday, February 11th. The company reported $0.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.09). The firm had revenue of $738.00 million for the quarter, compared to analyst estimates of $761.50 million. Avaya had a net margin of 2.08% and a return on equity of 16.22%. On average, analysts forecast that Avaya Holdings Corp will post 3.27 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This story was published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://www.baseballdailydigest.com/news/2019/04/15/citigroup-inc-raises-stake-in-avaya-holdings-corp-avya.html.

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.

Recommended Story: Different Types of Derivatives

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.