AlphaCentric Advisors LLC Decreases Position in AeroVironment, Inc. (NASDAQ:AVAV)

AlphaCentric Advisors LLC decreased its position in AeroVironment, Inc. (NASDAQ:AVAV) by 60.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,150 shares of the aerospace company’s stock after selling 4,850 shares during the period. AlphaCentric Advisors LLC’s holdings in AeroVironment were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Calamos Advisors LLC purchased a new position in AeroVironment in the 2nd quarter worth $838,000. Baillie Gifford & Co. raised its stake in AeroVironment by 132.7% in the 2nd quarter. Baillie Gifford & Co. now owns 1,511,676 shares of the aerospace company’s stock worth $275,367,000 after acquiring an additional 861,962 shares during the last quarter. Traynor Capital Management Inc. raised its stake in AeroVironment by 6.0% in the 2nd quarter. Traynor Capital Management Inc. now owns 10,385 shares of the aerospace company’s stock worth $1,892,000 after acquiring an additional 585 shares during the last quarter. Louisiana State Employees Retirement System grew its position in AeroVironment by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the aerospace company’s stock worth $2,568,000 after purchasing an additional 200 shares during the period. Finally, DT Investment Partners LLC acquired a new stake in AeroVironment during the 2nd quarter worth about $95,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 513 shares of AeroVironment stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $174.70, for a total value of $89,621.10. Following the completion of the sale, the chief financial officer now owns 18,650 shares in the company, valued at approximately $3,258,155. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 513 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $174.70, for a total value of $89,621.10. Following the completion of the transaction, the chief financial officer now owns 18,650 shares in the company, valued at $3,258,155. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Wahid Nawabi sold 9,867 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $169.23, for a total transaction of $1,669,792.41. Following the completion of the transaction, the chief executive officer now owns 99,892 shares of the company’s stock, valued at approximately $16,904,723.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,891 shares of company stock worth $1,850,601. Insiders own 1.40% of the company’s stock.

AeroVironment Price Performance

AVAV traded down $8.23 during trading on Monday, reaching $177.39. The company’s stock had a trading volume of 298,982 shares, compared to its average volume of 333,393. The company has a quick ratio of 2.52, a current ratio of 3.56 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $179.43 and a two-hundred day simple moving average of $168.80. AeroVironment, Inc. has a 1 year low of $93.94 and a 1 year high of $224.00. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 83.55 and a beta of 0.51.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Wednesday, June 26th. The aerospace company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.21. The business had revenue of $197.00 million for the quarter, compared to analyst estimates of $188.48 million. AeroVironment had a net margin of 8.32% and a return on equity of 10.89%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. As a group, analysts anticipate that AeroVironment, Inc. will post 3.41 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVAV. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of AeroVironment in a research report on Thursday, June 27th. BTIG Research began coverage on AeroVironment in a research report on Wednesday, June 26th. They set a “buy” rating and a $255.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $175.20.

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.