Central Square Management Builds A Bigger Stake In This California-Based Homebuilder

The second-largest holding of Central Square is represented by Avid Technology Inc. (NASDAQ:AVID), in which the investor decreased its position by 18% to 1.07 million shares, valued at $15.98 million. Avid Technology Inc. (NASDAQ:AVID) is a $619.34-million market cap provider of audio and video technology for media organizations and professionals. In April, Avid Technology Inc. (NASDAQ:AVID) announced that it entered into an agreement to acquire Orad Hi-Tec Systems Ltd. for approximately $60 million in an all-cash transaction. Israel-based Orad Hi-Tec Systems provides state-of-the-art, 3D real-time graphics, video servers, and related asset management solutions. From a financial standpoint, the company seems to be in a rather unstable position, with its first quarter 2015 revenues decreasing to $119.6 million, versus $135 million in the first quarter of 2014. The company posted a net loss of $169,000 for the first quarter, compared to net income of $8.9 million in the same year-ago period. Nonetheless, shares of Avid Technology Inc. (NASDAQ:AVID) have gained over 110% during the past year. Another investor we track, Richard Blum’s Blum Capital Partners, held 7.13 million shares of Avid Technology Inc. (NASDAQ:AVID) as of March 31.

Lastly is Discovery Communications Inc. (NASDAQ:DISCA), a $13.4 billion market cap media company, with nearly 3 billion subscribers in more than 220 countries and territories. As of March 31, Central Square held 354,648 shares of the company, representing a 9% increase to its position compared to the previous reporting period, the stake being valued at $10.9 million. Discovery Communications Inc. (NASDAQ:DISCA) reported first-quarter 2015 net income of $250 million, up 9% from the same quarter a year ago. Revenues increased by 9% as well, to $1.54 billion. The performance of Discovery Communications Inc. (NASDAQ:DISCA)’s stock has been rather dismal however, losing 58.18% during the past year. Among the largest shareholders of Discovery Communications Inc. (NASDAQ:DISCA) is Boykin Curry’s Eagle Capital Management, which holds 4.59 million shares as of March 31.

Disclosure: None