Insider Selling: AeroVironment, Inc. (AVAV) Chairman Sells 7,600 Shares of Stock
AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $55.27, for a total transaction of $420,052.00. Following the transaction, the chairman now directly owns 58,138 shares of the company’s stock, valued at $3,213,287.26. The sale was disclosed in a document filed with the SEC, which is available through this link.
AeroVironment, Inc. (NASDAQ:AVAV) traded up $1.25 during mid-day trading on Monday, reaching $55.75. 1,390,300 shares of the company’s stock traded hands, compared to its average volume of 270,863. The stock has a market cap of $1,370.00, a PE ratio of 42.56, a P/E/G ratio of 5.81 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 released its earnings results on Tuesday, December 5th. The aerospace company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. The firm had revenue of $73.83 million during the quarter, compared to analysts’ expectations of $63.53 million. AeroVironment had a net margin of 10.42% and a return on equity of 8.23%. AeroVironment’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) EPS. analysts predict that AeroVironment, Inc. will post 0.64 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. boosted 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 valued at $132,000 after purchasing an additional 61 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of AeroVironment by 3.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock valued at $185,000 after purchasing an additional 150 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of AeroVironment by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock valued at $187,000 after purchasing an additional 56 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of AeroVironment in the 3rd quarter valued at $250,000. Finally, First Manhattan Co. acquired a new position in shares of AeroVironment in the 3rd quarter valued at $270,000. 74.79% of the stock is owned by hedge funds and other institutional investors.
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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.
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