Exchange Traded Concepts LLC increased its stake in AeroVironment, Inc. (NASDAQ:AVAV – Free Report) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,170 shares of the aerospace company’s stock after purchasing an additional 105 shares during the quarter. Exchange Traded Concepts LLC’s holdings in AeroVironment were worth $642,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in AVAV. Security National Bank acquired a new position in AeroVironment in the 3rd quarter valued at $31,000. Modus Advisors LLC acquired a new position in shares of AeroVironment during the fourth quarter worth approximately $31,000. Truvestments Capital LLC bought a new stake in shares of AeroVironment in the third quarter valued at approximately $62,000. Avior Wealth Management LLC grew its stake in shares of AeroVironment by 51.0% in the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock worth $79,000 after acquiring an additional 133 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its position in AeroVironment by 23.1% during the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock worth $80,000 after acquiring an additional 75 shares during the period. Institutional investors own 86.38% of the company’s stock.
Insider Activity
In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $198.73, for a total value of $78,697.08. Following the transaction, the chief financial officer now owns 16,472 shares of the company’s stock, valued at approximately $3,273,480.56. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.27% of the stock is owned by insiders.
AeroVironment Trading Down 2.1 %
AeroVironment (NASDAQ:AVAV – Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.29). The company had revenue of $188.46 million for the quarter, compared to analyst estimates of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. Analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have weighed in on AVAV. Jefferies Financial Group raised shares of AeroVironment from a “hold” rating to a “buy” rating and reduced their price target for the company from $240.00 to $230.00 in a report on Wednesday, November 20th. William Blair restated an “outperform” rating on shares of AeroVironment in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AeroVironment currently has a consensus rating of “Buy” and an average target price of $225.20.
Check Out Our Latest Stock Report on AeroVironment
About AeroVironment
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.
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