Cubist Systematic Strategies LLC Invests $19.65 Million in Avista Corporation $AVA

Key Points

• Cubist Systematic Strategies LLC acquired 469,190 shares of Avista Corporation, valuing its investment at approximately $19.65 million, which represents 0.58% ownership in the company.
• Avista's recent earnings report showed $0.17 earnings per share, missing analysts' estimates of $0.28, and the company announced a quarterly dividend of $0.49 per share, with a 5.4% yield.
• Insider selling occurred as Vice President Scott J. Kinney sold 1,024 shares at an average price of $37.82, decreasing his ownership by 8.17% to a total of 11,515 shares.

Cubist Systematic Strategies LLC bought a new position in shares of Avista Corporation (NYSE:AVA - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 469,190 shares of the utilities provider's stock, valued at approximately $19,645,000. Cubist Systematic Strategies LLC owned 0.58% of Avista at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in Avista by 252.3% in the 1st quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 656 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Avista during the 1st quarter worth approximately $43,000. Costello Asset Management INC acquired a new position in shares of Avista during the 1st quarter worth approximately $102,000. Entropy Technologies LP acquired a new position in shares of Avista during the 1st quarter worth approximately $214,000. Finally, Cerity Partners LLC acquired a new position in shares of Avista during the 1st quarter worth approximately $222,000. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Avista Stock Performance

NYSE AVA traded up $0.10 on Friday, reaching $36.71. The stock had a trading volume of 223,780 shares, compared to its average volume of 726,291. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.68. The firm has a fifty day moving average of $37.41 and a two-hundred day moving average of $38.76. Avista Corporation has a 1-year low of $34.80 and a 1-year high of $43.09. The company has a market cap of $2.98 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 2.41 and a beta of 0.41.

Avista (NYSE:AVA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.11). Avista had a return on equity of 6.86% and a net margin of 9.13%.The business had revenue of $400.00 million for the quarter, compared to the consensus estimate of $416.06 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, equities research analysts anticipate that Avista Corporation will post 2.3 EPS for the current year.

Avista Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 19th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Tuesday, August 19th. Avista's dividend payout ratio (DPR) is 88.29%.

Insider Buying and Selling at Avista

In other news, VP Scott J. Kinney sold 1,024 shares of Avista stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $37.82, for a total value of $38,727.68. Following the completion of the transaction, the vice president directly owned 11,515 shares in the company, valued at approximately $435,497.30. The trade was a 8.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David J. Meyer sold 1,367 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $36.72, for a total value of $50,196.24. Following the transaction, the vice president owned 8,394 shares of the company's stock, valued at approximately $308,227.68. The trade was a 14.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.96% of the company's stock.

About Avista

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.