Nationwide Fund Advisors Has $1,356,000 Position in AeroVironment Inc. (AVAV)
Nationwide Fund Advisors maintained its stake in AeroVironment Inc. (NASDAQ:AVAV) during the third quarter, Holdings Channel reports. The institutional investor owned 55,539 shares of the company’s stock at the end of the third quarter. Nationwide Fund Advisors owned 0.24% of AeroVironment worth $1,356,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in AeroVironment by 97.8% in the second quarter. Royal Bank of Canada now owns 3,704 shares of the company’s stock worth $103,000 after buying an additional 1,831 shares in the last quarter. Mason Street Advisors LLC bought a new position in shares of AeroVironment during the second quarter valued at approximately $112,000. Raymond James & Associates bought a new position in shares of AeroVironment during the second quarter valued at approximately $203,000. Commonwealth Equity Services Inc bought a new position in shares of AeroVironment during the second quarter valued at approximately $206,000. Finally, Princeton Alpha Management LP bought a new position in shares of AeroVironment during the second quarter valued at approximately $263,000. Institutional investors own 71.20% of the company’s stock.
Shares of AeroVironment Inc. (NASDAQ:AVAV) traded up 0.14% during mid-day trading on Tuesday, reaching $28.18. 195,155 shares of the company traded hands. The firm has a 50 day moving average of $24.96 and a 200-day moving average of $26.93. AeroVironment Inc. has a 52 week low of $22.16 and a 52 week high of $32.44. The stock has a market capitalization of $646.90 million, a PE ratio of 154.84 and a beta of 1.25.
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Several research analysts have commented on the stock. Stifel Nicolaus restated a “hold” rating on shares of AeroVironment in a report on Thursday, September 1st. Zacks Investment Research upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a report on Tuesday, August 30th. Jefferies Group restated a “hold” rating and issued a $27.00 price objective on shares of AeroVironment in a report on Friday, August 12th. Canaccord Genuity began coverage on shares of AeroVironment in a report on Thursday, October 13th. They issued a “hold” rating and a $27.00 price objective for the company. Finally, Raymond James Financial Inc. reaffirmed a “hold” rating on shares of AeroVironment in a research report on Wednesday, August 31st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. AeroVironment presently has a consensus rating of “Hold” and a consensus target price of $28.60.
In other news, Chairman Timothy E. Conver sold 55,250 shares of AeroVironment stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $27.41, for a total transaction of $1,514,402.50. Following the completion of the sale, the chairman now directly owns 51,803 shares in the company, valued at $1,419,920.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.50% of the company’s stock.
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
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