Magnus Financial Group LLC Sells 829 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Magnus Financial Group LLC lowered its position in AeroVironment, Inc. (NASDAQ:AVAV) by 31.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,804 shares of the aerospace company’s stock after selling 829 shares during the period. Magnus Financial Group LLC’s holdings in AeroVironment were worth $278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. increased its position in shares of AeroVironment by 29.1% during the third quarter. Baillie Gifford & Co. now owns 1,951,393 shares of the aerospace company’s stock worth $391,254,000 after purchasing an additional 439,717 shares in the last quarter. State Street Corp raised its stake in AeroVironment by 0.5% in the third quarter. State Street Corp now owns 1,582,871 shares of the aerospace company’s stock valued at $317,366,000 after buying an additional 7,471 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of AeroVironment by 0.8% during the third quarter. Geode Capital Management LLC now owns 634,189 shares of the aerospace company’s stock worth $127,180,000 after acquiring an additional 4,948 shares during the last quarter. Heard Capital LLC increased its holdings in shares of AeroVironment by 25.5% during the third quarter. Heard Capital LLC now owns 592,136 shares of the aerospace company’s stock valued at $118,723,000 after acquiring an additional 120,447 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of AeroVironment by 155.1% in the 3rd quarter. Wellington Management Group LLP now owns 321,479 shares of the aerospace company’s stock valued at $64,457,000 after purchasing an additional 195,443 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Trading Up 0.2 %

NASDAQ AVAV opened at $177.88 on Thursday. The company has a fifty day moving average of $172.37 and a 200 day moving average of $185.76. The company has a market capitalization of $5.02 billion, a PE ratio of 102.23 and a beta of 0.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. AeroVironment, Inc. has a 1 year low of $119.46 and a 1 year high of $236.60.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Wednesday, December 4th. The aerospace company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.29). AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The company had revenue of $188.46 million for the quarter, compared to analyst estimates of $181.80 million. During the same period last year, the business earned $0.97 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Research analysts forecast that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 508 shares of AeroVironment stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $216.65, for a total value of $110,058.20. Following the completion of the transaction, the chief financial officer now owns 16,868 shares in the company, valued at $3,654,452.20. The trade was a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. William Blair restated an “outperform” rating on shares of AeroVironment in a research note on Thursday, December 5th. Jefferies Financial Group raised AeroVironment from a “hold” rating to a “buy” rating and lowered their price target for the stock from $240.00 to $230.00 in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $225.20.

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.