AeroVironment, Inc. $AVAV Stock Position Raised by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust increased its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 8.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,826 shares of the aerospace company’s stock after purchasing an additional 10,750 shares during the quarter. AeroVironment accounts for 2.5% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 3rd largest position. Emerald Mutual Fund Advisers Trust owned about 0.29% of AeroVironment worth $40,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVAV. ORG Partners LLC boosted its holdings in AeroVironment by 296.0% in the second quarter. ORG Partners LLC now owns 99 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 74 shares during the last quarter. RMG Wealth Management LLC purchased a new position in shares of AeroVironment during the 2nd quarter worth $28,000. Bessemer Group Inc. boosted its stake in shares of AeroVironment by 60.3% during the 2nd quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 44 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of AeroVironment during the 1st quarter worth $40,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of AeroVironment during the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Up 0.2%

AVAV opened at $380.65 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.12 and a current ratio of 5.96. AeroVironment, Inc. has a fifty-two week low of $102.25 and a fifty-two week high of $417.86. The firm’s fifty day moving average is $310.09 and its 200 day moving average is $243.89. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of -594.76, a price-to-earnings-growth ratio of 5.36 and a beta of 0.99.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Monday, August 28th. The aerospace company reported $0.12 earnings per share for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. The company had revenue of $132.62 million for the quarter. On average, sell-side analysts forecast that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVAV. Canaccord Genuity Group lifted their price target on shares of AeroVironment from $305.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Citigroup reiterated an “outperform” rating on shares of AeroVironment in a research note on Friday, October 3rd. JMP Securities lifted their price target on shares of AeroVironment from $325.00 to $400.00 and gave the stock a “market outperform” rating in a research note on Friday, October 3rd. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research note on Tuesday, September 16th. Finally, Stifel Nicolaus lifted their price target on shares of AeroVironment from $295.00 to $389.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $356.07.

Insiders Place Their Bets

In other AeroVironment news, insider Trace E. Stevenson sold 1,717 shares of AeroVironment stock in a transaction on Monday, October 6th. The shares were sold at an average price of $381.00, for a total value of $654,177.00. Following the sale, the insider directly owned 4,907 shares in the company, valued at approximately $1,869,567. The trade was a 25.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Patrick Mcdonnell sold 998 shares of AeroVironment stock in a transaction on Friday, October 10th. The shares were sold at an average price of $399.74, for a total transaction of $398,940.52. Following the completion of the sale, the chief financial officer owned 19,324 shares in the company, valued at approximately $7,724,575.76. This represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.81% of the company’s stock.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.