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Avid Technology, Inc. Message Board

  • tdyaa tdyaa May 8, 2008 3:13 PM Flag

    Blum buying 400k shares

    I wonder what the heck is prompting this buying this 1st week in May....Any thoughts??
    It may not paste in a readable text but you can check the SEC Schedule 13D CUSIP NO. 05367P100

    Persons have purchased the following shares of Common Stock in the open
    market:

    Entity Trade Date Shares Price/Share
    ------- ---------- -------- -----------

    For Blum Strategic IV for 05/01/2008 111,800 21.0302
    which Blum GP IV LP 05/02/2008 6,800 20.8000
    serves as the general partner 05/02/2008 180,000 20.9108
    and for Blum GP IV which 05/05/2008 600 20.6000
    serves as the general 05/05/2008 108,136 20.8590
    partner for Blum GP IV LP 05/06/2008 53,700 20.7597
    05/06/2008 5,000 20.8400

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    • looks like blum is still buying even more shares,another 220K shares over 3 days to add to his stash.

      • 1 Reply to FA6947
      • I DID notice the even-more-buying & in doing more research I find relatlionships among these following companies :
        with BLUM //Strategic Partners // Saddlepoint Partners //RCBA Inc //Dominion Connecticut // Virginia Electric and Power Company / BK Capital Partners // stinson capital partners.

        They do a lot of investing together & for me it's a bit of a puzzle to follow what they're doing. Boards of Directors sharing many boards.
        Any insite you could give me would be interesting to me as I continue. I wish I had a "flowchart" software program. The connections could be seen more easily.

    • Interesting to look at the Blum Capital Partners' website and read their mission statement.

    • looks like closer to 750K shares bought up by blum according to my addition(could be wrong?)
      was invested in ERES when blum had a huge stake in that firm,company did nothing for years,has finally paid off handsomely,if thats the case with AVID by 2010 i'll be on the plus side,whats another 18 months to wait, ughhhh....

      • 2 Replies to FA6947
      • I'm just now reading their 10Q 1st Q posted May 09,2008.
        Just some points:
        During the first quarter of 2008, we used $93.2 million in cash to repurchase 4,254,397 shares of our common stock under a $100 million share repurchase program approved by our board of directors in April 2007 and increased by an additional $100 million in February 2008. In the first quarter of 2008, our operating activities provided cash flows totaling $20.9 million.

      • KCI is another one of "his" that I've done well in but this one, AVID, is scary because the difference between "averaging down" & "catching a falling knife' comes into play here fore me. I own a few shares of AVID near it's 52wk high....ugh!

        Re number of Blum share purchase...you're probably correct...I was in a hurry & don't usually takee time to post...so I just took a look & a guess.

 
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