Insider Buying: King Theodore Walker Cheng-De, Avaya Holdings Corp. [AVYA] 10% Owner invested 2,000,000 shares

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Avaya Holdings Corp. shares valued at $1,369,118 were purchased by King Theodore Walker Cheng-De on Aug 09. At $0.68 per share, King Theodore Walker Cheng-De acquired 2,000,000 shares. The insider’s holdings grew to 10,998,750 shares worth approximately $18.59 million following the completion of this transaction.

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Also, Spears Stephen sold 23,748 shares, netting a total of over 488,734 in proceeds. Following the sale of shares at $20.58 each, the insider now holds 38,733 shares.

Before that, CHIRICO JAMES M had sold 30,000 shares from its account. In a trade valued at $632,700, the President & CEO traded Avaya Holdings Corp. shares for $21.09 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $1.55 million.

As published in a research note from Craig Hallum on July 29, 2022, Avaya Holdings Corp. [AVYA] has been rated down from a Buy to a Hold. Analysts at Barclays downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid May. As of May 13, 2022, Cowen has decreased its “an Outperform” rating to a “Market perform” for AVYA. Earlier on May 12, 2022, BWS Financial downgraded its rating. Their new recommendation was “a Sell” for AVYA stock which previously was a “a Buy”.

Analyzing AVYA’s Price Performance

On Wednesday, Avaya Holdings Corp. [NYSE: AVYA] plunged -6.63% to $1.69. The stock’s lowest price that day was $1.68, but it reached a high of $1.85 in the same session. During the last five days, there has been a drop of approximately -2.87%. Over the course of the year, Avaya Holdings Corp. shares have dropped approximately -91.46%. Shares of the company reached a 52-week high of $21.6500 on 01/04/22 and a 52-week low of $0.5962 on 08/09/22. A 50-day SMA is recorded $1.4917, while a 200-day SMA reached $9.3700. Nevertheless, trading volume fell to 7.37 million shares from 13.55 million shares the previous day.

Support And Resistance Levels for Avaya Holdings Corp. (AVYA)

According to the 24-hour chart, there is a support level at 1.6300, which, if violated, would cause prices to drop to 1.5700. In the upper region, resistance lies at 1.8000. The next price resistance is at 1.9100. RSI (Relative Strength Index) is 51.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0145, which suggests the price will decrease in the coming days. Percent R is at 69.32%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Avaya Holdings Corp. subject to short interest?

Stocks of Avaya Holdings Corp. saw a sharp rise in short interest on Jul 14, 2022 jumping by 6.02 million shares to 13.89 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.87 million shares. A jump of 43.34% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.33 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.33.

Which companies own the most shares of Avaya Holdings Corp. (AVYA)?

According to The Vanguard Group, Inc. filings, the company currently owns 9,374,252 shares, which is about 10.92% of the total AVYA shares outstanding. The investor’s shares have appreciated by 241,866 from its previous 13-F filing of 9132386.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $13,306,775. BlackRock Fund Advisors acquire a 20.11% interest valued at $9.75 million while American Century Investment Manag purchased a 90,144 stake. A total of 4,065,442 shares of Avaya Holdings Corp. were bought by Marshall Wace LLP during the quarter, and 1,021,200 were bought by Alta Fundamental Advisers LLC. In its current portfolio, Voss Capital LLC holds 2,594,322 shares valued at $4.12 million.


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