Twin Tree Management LP Makes New Investment in AeroVironment, Inc. $AVAV

Key Points

• Twin Tree Management LP made a new investment in AeroVironment, acquiring 2,445 shares valued at approximately $697,000.
• AeroVironment's stock has shown significant interest from institutional investors, with 86.38% ownership and various hedge funds increasing their investments during the 1st quarter.
• The company reported an earnings per share of $0.12 for the latest quarter and has a consensus "Buy" rating from analysts with an average target price of $356.07.

Twin Tree Management LP bought a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,445 shares of the aerospace company's stock, valued at approximately $697,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVAV. Ameriprise Financial Inc. lifted its holdings in AeroVironment by 281.6% during the 1st quarter. Ameriprise Financial Inc. now owns 430,307 shares of the aerospace company's stock worth $51,288,000 after buying an additional 317,530 shares during the period. Alyeska Investment Group L.P. lifted its holdings in AeroVironment by 48.2% during the 1st quarter. Alyeska Investment Group L.P. now owns 902,814 shares of the aerospace company's stock worth $107,606,000 after buying an additional 293,553 shares during the period. Stephens Investment Management Group LLC lifted its holdings in AeroVironment by 41.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company's stock worth $91,000,000 after buying an additional 221,948 shares during the period. Nuveen LLC acquired a new position in AeroVironment during the 1st quarter worth about $23,501,000. Finally, Tocqueville Asset Management L.P. acquired a new position in AeroVironment during the 1st quarter worth about $16,802,000. 86.38% of the stock is owned by institutional investors and hedge funds.

AeroVironment Stock Performance

Shares of AeroVironment stock opened at $350.59 on Friday. AeroVironment, Inc. has a one year low of $102.25 and a one year high of $417.86. The firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of -547.79, a PEG ratio of 6.35 and a beta of 0.99. The business has a 50-day simple moving average of $289.71 and a 200 day simple moving average of $228.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.96 and a quick ratio of 5.12.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its earnings results on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. AeroVironment had a positive return on equity of 4.67% and a negative net margin of 4.14%.The business had revenue of $132.62 million during the quarter. On average, research analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Weiss Ratings raised AeroVironment from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. The Goldman Sachs Group boosted their price objective on AeroVironment from $300.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Bank of America assumed coverage on AeroVironment in a research note on Thursday, September 18th. They issued a "buy" rating and a $300.00 price objective on the stock. New Street Research set a $365.00 price objective on AeroVironment in a research note on Wednesday, October 1st. Finally, Oppenheimer reissued an "outperform" rating on shares of AeroVironment in a research note on Sunday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $356.07.

Insider Transactions at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 998 shares of the business's stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $399.74, for a total value of $398,940.52. Following the completion of the sale, the chief financial officer directly owned 19,324 shares of the company's stock, valued at $7,724,575.76. The trade was a 4.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Trace E. Stevenson sold 1,717 shares of the business's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $381.00, for a total value of $654,177.00. Following the sale, the insider directly owned 4,907 shares of the company's stock, valued at $1,869,567. This represents a 25.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% of the company's stock.

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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