MIG Capital LLC Purchases New Stake in AeroVironment, Inc. (NASDAQ:AVAV)

MIG Capital LLC purchased a new position in AeroVironment, Inc. (NASDAQ:AVAV) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,088 shares of the aerospace company’s stock, valued at approximately $321,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System grew its stake in shares of AeroVironment by 0.8% in the fourth quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company’s stock worth $1,257,000 after purchasing an additional 68 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of AeroVironment by 0.6% in the 4th quarter. New York State Teachers Retirement System now owns 17,618 shares of the aerospace company’s stock worth $2,711,000 after buying an additional 100 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of AeroVironment by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,170 shares of the aerospace company’s stock valued at $642,000 after buying an additional 105 shares during the period. Atria Investments Inc raised its holdings in shares of AeroVironment by 7.0% during the fourth quarter. Atria Investments Inc now owns 1,650 shares of the aerospace company’s stock valued at $254,000 after acquiring an additional 108 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in AeroVironment by 4.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,782 shares of the aerospace company’s stock worth $582,000 after acquiring an additional 156 shares during the period. 86.38% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares of the company’s stock, valued at $14,765,306.80. This trade represents a 20.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.27% of the company’s stock.

AeroVironment Trading Down 5.1 %

Shares of NASDAQ AVAV opened at $111.65 on Friday. The stock has a market cap of $3.15 billion, a P/E ratio of 64.17 and a beta of 0.74. 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 $110.07 and a 1 year high of $236.60. The firm has a 50-day moving average of $146.62 and a 200 day moving average of $174.43.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $202.40.

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.