EAM Investors LLC Invests $2.44 Million in AeroVironment, Inc. (AVAV) Stock
EAM Investors LLC bought a new stake in AeroVironment, Inc. (NASDAQ:AVAV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 45,098 shares of the aerospace company’s stock, valued at approximately $2,441,000. EAM Investors LLC owned 0.19% of AeroVironment at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of AVAV. BlackRock Inc. grew its stake in AeroVironment by 216,094.4% in the first quarter. BlackRock Inc. now owns 3,216,973 shares of the aerospace company’s stock valued at $90,172,000 after acquiring an additional 3,215,485 shares during the period. Janus Henderson Group PLC acquired a new position in AeroVironment in the second quarter valued at about $39,724,000. American Capital Management Inc. grew its stake in AeroVironment by 11.4% in the second quarter. American Capital Management Inc. now owns 1,314,107 shares of the aerospace company’s stock valued at $50,199,000 after acquiring an additional 134,555 shares during the period. Vanguard Group Inc. grew its stake in AeroVironment by 5.9% in the first quarter. Vanguard Group Inc. now owns 1,861,593 shares of the aerospace company’s stock valued at $52,180,000 after acquiring an additional 103,167 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in AeroVironment in the second quarter valued at about $3,642,000. 77.17% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on AVAV. Piper Jaffray Companies reissued a “neutral” rating and issued a $36.00 target price on shares of AeroVironment in a research note on Thursday, August 31st. Jefferies Group LLC boosted their target price on AeroVironment from $29.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, August 30th. Canaccord Genuity upped their price objective on AeroVironment from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, August 30th. Zacks Investment Research cut AeroVironment from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $35.00 price objective on shares of AeroVironment in a research report on Monday, August 28th. Seven analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $39.00.
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In related news, Chairman Timothy E. Conver sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $53.91, for a total transaction of $107,820.00. Following the sale, the chairman now owns 58,138 shares in the company, valued at $3,134,219.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $51.47, for a total value of $391,172.00. Following the sale, the chairman now owns 58,138 shares in the company, valued at approximately $2,992,362.86. The disclosure for this sale can be found here. Insiders have sold 36,200 shares of company stock valued at $1,839,100 over the last ninety days. 11.00% of the stock is owned by insiders.
AeroVironment, Inc. (AVAV) traded up $1.38 during mid-day trading on Wednesday, hitting $45.08. The stock had a trading volume of 276,600 shares, compared to its average volume of 237,176. The firm has a market capitalization of $1,041.82, a PE ratio of 52.02, a P/E/G ratio of 4.76 and a beta of 1.24. AeroVironment, Inc. has a 52 week low of $24.70 and a 52 week high of $55.75.
AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.15. The company had revenue of $43.80 million during the quarter, compared to analysts’ expectations of $42.44 million. AeroVironment had a return on equity of 5.40% and a net margin of 7.22%. AeroVironment’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.51) earnings per share. equities analysts predict that AeroVironment, Inc. will post 0.61 EPS for the current year.
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.
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