Calamos Advisors LLC Buys Shares of 1,000,000 AvidXchange Holdings, Inc. $AVDX

Calamos Advisors LLC acquired a new position in AvidXchange Holdings, Inc. (NASDAQ:AVDX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,000,000 shares of the company’s stock, valued at approximately $9,790,000. Calamos Advisors LLC owned 0.48% of AvidXchange at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of AvidXchange by 8.4% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 40,248 shares of the company’s stock worth $394,000 after purchasing an additional 3,131 shares during the last quarter. ProShare Advisors LLC grew its stake in AvidXchange by 74.2% during the 2nd quarter. ProShare Advisors LLC now owns 65,549 shares of the company’s stock valued at $642,000 after purchasing an additional 27,926 shares during the last quarter. BCK Capital Management LP purchased a new stake in AvidXchange in the second quarter valued at approximately $705,000. Credit Industriel ET Commercial purchased a new stake in shares of AvidXchange in the 2nd quarter valued at $1,468,000. Finally, KRYGER CAPITAL Ltd purchased a new stake in AvidXchange in the second quarter valued at $7,410,000. Hedge funds and other institutional investors own 80.58% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AvidXchange in a research note on Wednesday, October 8th. Fourteen equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, AvidXchange currently has an average rating of “Reduce” and an average price target of $9.79.

AvidXchange Price Performance

NASDAQ AVDX opened at $10.00 on Friday. The business has a fifty day moving average price of $9.97 and a 200 day moving average price of $9.80. The company has a market cap of $2.08 billion, a P/E ratio of -199.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.33 and a current ratio of 1.33. AvidXchange Holdings, Inc. has a one year low of $6.61 and a one year high of $11.68.

AvidXchange Profile

AvidXchange Holdings, Inc provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and the AvidXchange Supplier Hub, which provides supplier insights to cash flow, tools for in-network invoices and payments, and early payment feature.