Emerald Acquisition Ltd. acquired a new position in AeroVironment Inc. (NASDAQ:AVAV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,633 shares of the company’s stock, valued at approximately $879,000. Emerald Acquisition Ltd. owned approximately 0.14% of AeroVironment at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of AVAV. Aperio Group LLC increased its position in shares of AeroVironment by 6.3% in the first quarter. Aperio Group LLC now owns 10,321 shares of the company’s stock worth $292,000 after buying an additional 608 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of AeroVironment by 44.4% in the second quarter. BNP Paribas Arbitrage SA now owns 10,707 shares of the company’s stock worth $298,000 after buying an additional 3,291 shares during the period. Huntington Asset Advisors Inc. purchased a new position in shares of AeroVironment during the first quarter worth $510,000. New Jersey Better Educational Savings Trust purchased a new position in shares of AeroVironment during the second quarter worth $556,000. Finally, BlackRock Group LTD increased its position in shares of AeroVironment by 19.0% in the first quarter. BlackRock Group LTD now owns 29,465 shares of the company’s stock worth $834,000 after buying an additional 4,708 shares during the period. Institutional investors and hedge funds own 62.74% of the company’s stock.
Shares of AeroVironment Inc. (NASDAQ:AVAV) traded down 0.39% during mid-day trading on Wednesday, reaching $23.07. 30,931 shares of the company traded hands. AeroVironment Inc. has a 52 week low of $20.79 and a 52 week high of $32.44. The stock’s 50-day moving average is $25.08 and its 200-day moving average is $27.72. The company has a market capitalization of $529.59 million, a P/E ratio of 126.76 and a beta of 1.34.
AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, August 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.34. AeroVironment had a return on equity of 1.22% and a net margin of 1.70%. The business had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $37.81 million. During the same period in the previous year, the business posted ($0.24) earnings per share. The company’s revenue for the quarter was down 23.1% on a year-over-year basis. On average, equities analysts predict that AeroVironment Inc. will post $0.20 EPS for the current fiscal year.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Tuesday, July 12th. Canaccord Genuity reiterated a “hold” rating on shares of AeroVironment in a research report on Wednesday, June 29th. Piper Jaffray Cos. decreased their price objective on shares of AeroVironment from $37.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, August 31st. Jefferies Group reiterated a “hold” rating and issued a $27.00 price objective on shares of AeroVironment in a research report on Friday, August 12th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of AeroVironment in a research note on Thursday, September 1st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $28.80.
In other news, Chairman Timothy E. Conver sold 11,700 shares of the firm’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $27.56, for a total value of $322,452.00. Following the completion of the sale, the chairman now owns 51,803 shares in the company, valued at approximately $1,427,690.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Timothy E. Conver sold 8,500 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $28.52, for a total transaction of $242,420.00. Following the completion of the sale, the chairman now owns 51,803 shares of the company’s stock, valued at approximately $1,477,421.56. The disclosure for this sale can be found here. Company insiders own 12.50% of the company’s stock.
AeroVironment Company Profile
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
Want to see what other hedge funds are holding AVAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AeroVironment Inc. (NASDAQ:AVAV).
Receive News & Ratings for AeroVironment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AeroVironment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.