Avid Technology gains on $115 mln share repurchase program

Avid Technology

10/09/2021 15:45

** Shares of software co  AVID.O  up as much as 3.25% at
$25.74 
    ** Co says board has authorized a share repurchase program
pursuant to which Avid may purchase up to $115 million of its
common stock
    ** Co expects to fund any repurchases using cash on hand and
cash generated from operations
    ** Out of five analysts, three rate the stock "buy" and two
"hold"
    ** Stock was up ~62% YTD, as of last close 

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))