Insider Selling: Avista Corporation (AVA) VP Sells 4,700 Shares of Stock
Avista Corporation (NYSE:AVA) VP James M. Kensok sold 4,700 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $52.01, for a total transaction of $244,447.00. Following the completion of the transaction, the vice president now directly owns 12,787 shares of the company’s stock, valued at approximately $665,051.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Avista Corporation (NYSE AVA) traded down $0.31 on Friday, reaching $51.89. 153,064 shares of the company’s stock traded hands, compared to its average volume of 408,042. The stock has a market cap of $3,344.44, a price-to-earnings ratio of 25.20 and a beta of 0.44.
Avista Corporation (NYSE:AVA) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $326.33 million. Avista Corporation had a net margin of 8.86% and a return on equity of 7.94%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. equities analysts forecast that Avista Corporation will post 1.83 earnings per share for the current year.
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A number of brokerages have recently commented on AVA. Zacks Investment Research downgraded shares of Avista Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price objective on shares of Avista Corporation in a research note on Friday, July 21st. BidaskClub upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. KeyCorp restated a “hold” rating on shares of Avista Corporation in a research report on Friday, October 20th. Finally, Williams Capital cut shares of Avista Corporation from a “hold” rating to a “sell” rating and upped their price objective for the stock from $38.00 to $42.00 in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $47.75.
A number of large investors have recently modified their holdings of AVA. ARP Americas LLC bought a new position in Avista Corporation during the third quarter worth about $16,595,000. State of Wisconsin Investment Board purchased a new stake in Avista Corporation in the third quarter valued at approximately $14,734,000. Vanguard Group Inc. raised its stake in Avista Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,254,298 shares of the utilities provider’s stock valued at $244,231,000 after purchasing an additional 233,359 shares in the last quarter. Northern Trust Corp raised its stake in shares of Avista Corporation by 6.7% during the second quarter. Northern Trust Corp now owns 1,934,063 shares of the utilities provider’s stock worth $82,120,000 after acquiring an additional 122,115 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its stake in shares of Avista Corporation by 59.5% during the second quarter. Balyasny Asset Management LLC now owns 322,218 shares of the utilities provider’s stock worth $13,681,000 after acquiring an additional 120,177 shares in the last quarter. Hedge funds and other institutional investors own 67.86% of the company’s stock.
Avista Corporation Company Profile
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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