Blum sold 271,667 shares in the Burlington, Mass.-based audio and video production technology company specializing in digital editing systems for an average price of $7.92 per share. That is more than 31% lower than the $11.57 per share price he paid when he bought the stake in the fourth quarter of 2014. The sale had a -0.52% impact on Blum's portfolio.
- Robert Olstein Undervalued Stocks
- Robert Olstein Top Growth Companies
- Robert Olstein High Yield stocks
- Richard Blum Undervalued Stocks
- Richard Blum Top Growth Companies
- Richard Blum High Yield stocks
Avid Technology has a market cap of $297.7 million and an enterprise value of $356.54 million. It has a P/E of 57.9 and a P/S of 0.6. Chuck Royce (Trades, Portfolio), Arnold Van Den Berg (Trades, Portfolio) and Private Capital (Trades, Portfolio) have shares of Avid Technology in their portfolios.
In the 1990s, Avid was recognized by the National Academy of Television Arts & Sciences and the Academy Awards for editing software that is now used routinely in the production of television programs, feature-length motion pictures and commercials.
Avid's flagship product is Media Composer, a film and editing video application that was initially introduced in 1989 as an offline editing system. It has been the dominant nonlinear editing system in the film and television industries since the early 1990s.
To view the portfolios of more gurus, visit theList of Guruspage. Not a premium member of GuruFocus? Try it free for 7 days.
About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .
This article first appeared on GuruFocus .