Stephens Investment Management Group LLC Acquires 151,347 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Stephens Investment Management Group LLC increased its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 123.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 274,184 shares of the aerospace company’s stock after purchasing an additional 151,347 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.15% of AeroVironment worth $15,565,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in AeroVironment by 14.2% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,078 shares of the aerospace company’s stock valued at $142,000 after acquiring an additional 259 shares during the last quarter. Quantamental Technologies LLC bought a new stake in AeroVironment during the first quarter valued at $159,000. Victory Capital Management Inc. bought a new stake in AeroVironment during the first quarter valued at $185,000. Acadian Asset Management LLC boosted its position in AeroVironment by 2,439.2% during the first quarter. Acadian Asset Management LLC now owns 3,631 shares of the aerospace company’s stock valued at $249,000 after acquiring an additional 3,488 shares during the last quarter. Finally, BBT Capital Management LLC bought a new stake in AeroVironment during the first quarter valued at $260,000. 84.36% of the stock is currently owned by institutional investors.

Shares of AVAV stock traded up $1.01 on Friday, reaching $52.31. 1,589 shares of the company were exchanged, compared to its average volume of 154,702. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 1.35 and a beta of 1.11. The company has a 50-day moving average of $54.35 and a 200-day moving average of $66.25. AeroVironment, Inc. has a one year low of $49.69 and a one year high of $121.32.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, June 25th. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The company had revenue of $87.90 million for the quarter, compared to analysts’ expectations of $82.57 million. AeroVironment had a net margin of 15.09% and a return on equity of 7.93%. The business’s revenue was down 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. Equities research analysts predict that AeroVironment, Inc. will post 1.53 EPS for the current fiscal year.

In other news, Chairman Timothy E. Conver sold 13,792 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.35, for a total transaction of $873,723.20. Following the transaction, the chairman now owns 55,659 shares of the company’s stock, valued at approximately $3,525,997.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 6,896 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $50.93, for a total transaction of $351,213.28. Following the completion of the sale, the chairman now owns 56,660 shares in the company, valued at approximately $2,885,693.80. The disclosure for this sale can be found here. Insiders have sold a total of 76,156 shares of company stock worth $4,484,489 in the last three months. Insiders own 11.70% of the company’s stock.

A number of brokerages have commented on AVAV. ValuEngine cut shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Robert W. Baird reaffirmed a “neutral” rating and set a $65.00 price target (down previously from $83.00) on shares of AeroVironment in a research report on Wednesday, June 26th. Canaccord Genuity cut their price target on shares of AeroVironment from $86.00 to $80.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 26th. BidaskClub cut shares of AeroVironment from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Finally, Piper Jaffray Companies cut their price objective on shares of AeroVironment from $79.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $74.32.

AeroVironment Profile

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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