Fox Run Management L.L.C. Invests $1.13 Million in Avista Corporation $AVA

Key Points

• Fox Run Management L.L.C. has made a new investment in Avista Corporation, acquiring 26,884 shares valued at approximately $1,126,000 in the first quarter.
• Avista Corporation reported earnings of $0.17 per share in its latest quarterly earnings, which missed estimates by $0.11, alongside revenue of $400 million compared to expectations of $416 million.
• The company recently declared a quarterly dividend of $0.49, set to be paid on September 15th, which represents an annualized dividend yield of 5.2%.

Fox Run Management L.L.C. purchased a new position in Avista Corporation (NYSE:AVA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,884 shares of the utilities provider's stock, valued at approximately $1,126,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Avista by 252.3% in the 1st quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock worth $38,000 after purchasing an additional 656 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Avista in the 1st quarter worth $43,000. Costello Asset Management INC bought a new stake in shares of Avista in the first quarter worth $102,000. Entropy Technologies LP bought a new stake in shares of Avista in the first quarter worth $214,000. Finally, Advisory Services Network LLC purchased a new stake in Avista during the fourth quarter valued at $215,000. Institutional investors own 85.24% of the company's stock.

Avista Stock Performance

NYSE:AVA traded down $0.3520 on Wednesday, hitting $36.7980. The stock had a trading volume of 672,445 shares, compared to its average volume of 832,620. The business's 50-day simple moving average is $37.60 and its two-hundred day simple moving average is $38.77. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.45 and a beta of 0.40. Avista Corporation has a 52-week low of $34.80 and a 52-week high of $43.09. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 1.06.

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

Avista Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, August 19th will be given a $0.49 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.96 annualized dividend and a yield of 5.3%. Avista's dividend payout ratio (DPR) is presently 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 shares were sold at an average price of $37.82, for a total transaction of $38,727.68. Following the transaction, the vice president owned 11,515 shares in the company, valued at $435,497.30. This trade represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.96% of the stock is owned by corporate insiders.

Avista 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.