Invenomic Capital Management LP Trims Stock Position in American Vanguard Corporation $AVD

Key Points

• Invenomic Capital Management LP decreased its stake in American Vanguard Corporation by 13.7%, holding 555,069 shares after selling 88,023 shares.
• The company reported a negative earnings per share of ($0.03), which exceeded analysts' expectations of ($0.11), alongside quarterly revenue of $129.31 million.
• Analysts have a consensus rating of "Buy" on the stock, with Lake Street Capital reducing its price target from $14.00 to $12.00.

Invenomic Capital Management LP reduced its position in shares of American Vanguard Corporation (NYSE:AVD - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 555,069 shares of the basic materials company's stock after selling 88,023 shares during the quarter. Invenomic Capital Management LP owned 1.93% of American Vanguard worth $2,442,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CWM LLC boosted its stake in shares of American Vanguard by 134.7% during the 1st quarter. CWM LLC now owns 9,425 shares of the basic materials company's stock worth $41,000 after acquiring an additional 5,410 shares in the last quarter. Aigen Investment Management LP purchased a new position in American Vanguard in the 1st quarter valued at about $44,000. Cerity Partners LLC purchased a new position in American Vanguard in the 1st quarter valued at about $48,000. Bayesian Capital Management LP purchased a new position in American Vanguard in the 4th quarter valued at about $54,000. Finally, Wells Fargo & Company MN lifted its stake in American Vanguard by 23.8% in the 4th quarter. Wells Fargo & Company MN now owns 14,952 shares of the basic materials company's stock valued at $69,000 after buying an additional 2,875 shares in the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Lake Street Capital decreased their price target on shares of American Vanguard from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, June 9th. Wall Street Zen raised shares of American Vanguard from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $12.00.

American Vanguard Price Performance

AVD stock traded up $0.11 during mid-day trading on Thursday, reaching $5.47. The company's stock had a trading volume of 44,892 shares, compared to its average volume of 229,971. The stock has a market cap of $155.37 million, a PE ratio of -1.22 and a beta of 1.26. The company has a current ratio of 1.91, a quick ratio of 1.00 and a debt-to-equity ratio of 0.82. American Vanguard Corporation has a fifty-two week low of $3.28 and a fifty-two week high of $6.68. The company's 50 day moving average is $4.56 and its two-hundred day moving average is $4.39.

American Vanguard (NYSE:AVD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.08. The company had revenue of $129.31 million during the quarter, compared to the consensus estimate of $130.00 million. American Vanguard had a negative net margin of 23.72% and a negative return on equity of 26.21%.

American Vanguard Company Profile

American Vanguard Corporation, through its subsidiaries, develops, manufactures, and markets specialty chemicals for agricultural, commercial, and consumer uses in the United States and internationally. It manufactures and formulates chemicals, including insecticides, fungicides, herbicides, soil health, plant nutrition, molluscicides, growth regulators, soil fumigants, and biorationals in liquid, powder, and granular forms for crops, turf and ornamental plants, and human and animal health protection.