Kornitzer Capital Management Inc. KS Has $4.04 Million Stock Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Kornitzer Capital Management Inc. KS grew its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 57.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,855 shares of the aerospace company's stock after buying an additional 12,360 shares during the period. Kornitzer Capital Management Inc. KS owned 0.12% of AeroVironment worth $4,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC grew its stake in AeroVironment by 120.2% during the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after purchasing an additional 101 shares during the period. Colonial Trust Advisors acquired a new stake in AeroVironment during the fourth quarter worth approximately $31,000. Accredited Wealth Management LLC acquired a new stake in AeroVironment during the fourth quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB grew its stake in AeroVironment by 171.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock worth $29,000 after purchasing an additional 154 shares during the period. Finally, Spirit of America Management Corp NY acquired a new stake in AeroVironment during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 86.38% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on AVAV. Jefferies Financial Group raised their target price on AeroVironment from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. William Blair assumed coverage on AeroVironment in a research note on Sunday, June 29th. They issued an "outperform" rating for the company. Raymond James Financial set a $225.00 price objective on AeroVironment and gave the company a "strong-buy" rating in a research note on Wednesday, June 25th. The Goldman Sachs Group assumed coverage on AeroVironment in a research note on Monday, June 30th. They issued a "buy" rating and a $301.00 price objective for the company. Finally, Stifel Nicolaus assumed coverage on AeroVironment in a research note on Tuesday, June 24th. They issued a "buy" rating and a $240.00 price objective for the company. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $265.22.

AeroVironment Stock Down 0.4%

AVAV stock opened at $263.89 on Wednesday. AeroVironment, Inc. has a twelve month low of $102.25 and a twelve month high of $295.90. The company has a quick ratio of 2.69, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. The stock's 50 day moving average is $201.01 and its 200-day moving average is $167.78. The firm has a market capitalization of $13.02 billion, a PE ratio of 170.25 and a beta of 0.96.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.20. AeroVironment had a return on equity of 10.68% and a net margin of 5.32%. The company had revenue of $275.05 million for the quarter, compared to analyst estimates of $242.69 million. During the same quarter last year, the company earned $0.43 earnings per share. The company's revenue for the quarter was up 39.6% on a year-over-year basis. Sell-side analysts expect that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

About AeroVironment

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.

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