AeroVironment, Inc. (NASDAQ:AVAV) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC cut its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 16.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 15,194 shares of the aerospace company’s stock after selling 2,897 shares during the period. Townsquare Capital LLC owned about 0.05% of AeroVironment worth $3,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Radnor Capital Management LLC raised its position in shares of AeroVironment by 1.0% during the 3rd quarter. Radnor Capital Management LLC now owns 5,965 shares of the aerospace company’s stock worth $1,196,000 after purchasing an additional 60 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in AeroVironment by 1.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,609 shares of the aerospace company’s stock worth $840,000 after buying an additional 66 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of AeroVironment by 23.1% during the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock valued at $80,000 after acquiring an additional 75 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of AeroVironment by 7.2% in the third quarter. First Trust Direct Indexing L.P. now owns 1,434 shares of the aerospace company’s stock valued at $288,000 after acquiring an additional 96 shares in the last quarter. Finally, Avior Wealth Management LLC boosted 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. 86.38% of the stock is owned by hedge funds and other institutional investors.

AeroVironment Stock Up 1.9 %

Shares of NASDAQ AVAV opened at $194.50 on Friday. The company has a market capitalization of $5.49 billion, a P/E ratio of 91.31 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04. The company has a 50 day simple moving average of $208.67 and a 200-day simple moving average of $194.23. AeroVironment, Inc. has a 1 year low of $116.51 and a 1 year high of $236.60.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.28. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. The company had revenue of $189.48 million during the quarter, compared to analysts’ expectations of $183.18 million. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts predict that AeroVironment, Inc. will post 3.36 earnings per share for the current year.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total transaction of $77,703.12. Following the completion of the transaction, the chief financial officer now owns 18,254 shares of the company’s stock, valued at approximately $3,581,799.88. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 1,782 shares of company stock worth $372,615. Company insiders own 1.27% of the company’s stock.

Analyst Ratings Changes

AVAV has been the topic of a number of research reports. Jefferies Financial Group upgraded AeroVironment from a “hold” rating to a “buy” rating and decreased their price objective for the company from $240.00 to $230.00 in a report on Wednesday, November 20th. Royal Bank of Canada lowered their price target on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Alembic Global Advisors upgraded shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective for the company in a report on Wednesday, August 28th. BTIG Research restated a “buy” rating and set a $245.00 target price on shares of AeroVironment in a report on Tuesday, September 17th. Finally, Robert W. Baird upgraded AeroVironment from a “neutral” rating to an “outperform” rating and upped their price target for the company from $161.00 to $220.00 in a research report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $211.83.

AeroVironment Company Profile

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.