Cubist Systematic Strategies LLC Makes New Investment 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 stake in shares of Avista Corporation (NYSE:AVA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 large investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Avista by 252.3% during the 1st quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 656 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Avista in the first quarter valued at approximately $43,000. Costello Asset Management INC bought a new stake in Avista in the first quarter valued at approximately $102,000. Entropy Technologies LP bought a new position in shares of Avista during the 1st quarter worth approximately $214,000. Finally, Cerity Partners LLC bought a new position in shares of Avista during the 1st quarter worth approximately $222,000. 85.24% of the stock is owned by institutional investors.

Avista Stock Down 0.1%

NYSE AVA traded down $0.05 on Wednesday, reaching $36.42. The company had a trading volume of 654,260 shares, compared to its average volume of 723,079. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $2.95 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.41 and a beta of 0.41. Avista Corporation has a 52-week low of $34.80 and a 52-week high of $43.09. The company's fifty day moving average is $37.43 and its 200 day moving average is $38.76.

Avista (NYSE:AVA - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $400.00 million for the quarter, compared to the consensus estimate of $416.06 million. During the same quarter in the previous year, the company posted $0.29 EPS. Sell-side analysts anticipate that Avista Corporation will post 2.3 earnings per share for the current fiscal year.

Avista Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, August 19th. Avista's dividend payout ratio (DPR) is 88.29%.

Insider Activity

In related news, VP Scott J. Kinney sold 1,024 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $37.82, for a total transaction of $38,727.68. Following the transaction, the vice president directly owned 11,515 shares of the company's stock, valued at approximately $435,497.30. This trade represents a 8.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.94% of the company's stock.

Avista Company Profile

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.