EAM Investors LLC Takes $2.44 Million Position in AeroVironment, Inc. (NASDAQ:AVAV)

EAM Investors LLC purchased a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 45,098 shares of the aerospace company’s stock, valued at approximately $2,441,000. EAM Investors LLC owned approximately 0.19% of AeroVironment at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. raised its holdings in shares of AeroVironment by 1.8% in the 2nd quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 61 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of AeroVironment by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock worth $136,000 after acquiring an additional 38 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of AeroVironment by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 4,073 shares of the aerospace company’s stock worth $155,000 after acquiring an additional 1,793 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of AeroVironment by 3.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock worth $185,000 after acquiring an additional 150 shares in the last quarter. Finally, First Manhattan Co. purchased a new position in shares of AeroVironment in the third quarter worth approximately $270,000. Institutional investors own 74.65% of the company’s stock.

In related news, Chairman Timothy E. Conver sold 2,000 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $53.91, for a total transaction of $107,820.00. Following the completion of the transaction, the chairman now directly owns 58,138 shares in the company, valued at approximately $3,134,219.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $51.47, for a total transaction of $391,172.00. Following the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at $2,992,362.86. The disclosure for this sale can be found here. Insiders sold 43,800 shares of company stock valued at $2,179,960 over the last 90 days. 11.00% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on the stock. ValuEngine downgraded shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Zacks Investment Research downgraded shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Robert W. Baird reissued a “hold” rating and issued a $35.00 target price on shares of AeroVironment in a research report on Tuesday, October 24th. Canaccord Genuity boosted their price objective on shares of AeroVironment from $40.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, October 4th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and set a $36.00 price objective on shares of AeroVironment in a research report on Thursday, August 31st. Seven research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus target price of $39.00.

AeroVironment, Inc. (AVAV) traded up $1.10 during mid-day trading on Thursday, reaching $55.57. 955,872 shares of the company’s stock traded hands, compared to its average volume of 261,436. The company has a market capitalization of $1,031.09, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 4.71 and a beta of 1.16. AeroVironment, Inc. has a 12 month low of $24.70 and a 12 month high of $58.23.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.30. AeroVironment had a net margin of 10.42% and a return on equity of 8.34%. The business had revenue of $73.83 million during the quarter, compared to analysts’ expectations of $63.53 million. During the same period in the previous year, the company earned ($0.18) earnings per share. AeroVironment’s revenue for the quarter was up 47.3% on a year-over-year basis. equities research analysts forecast that AeroVironment, Inc. will post 0.61 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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