MGB Wealth Management LLC Makes New Investment in AeroVironment, Inc. (NASDAQ:AVAV)

MGB Wealth Management LLC acquired a new stake in AeroVironment, Inc. (NASDAQ:AVAV) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,025 shares of the aerospace company’s stock, valued at approximately $206,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of AeroVironment by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 3,094,831 shares of the aerospace company’s stock valued at $474,376,000 after purchasing an additional 179,395 shares during the last quarter. Comerica Bank boosted its stake in shares of AeroVironment by 53.9% in the 1st quarter. Comerica Bank now owns 18,991 shares of the aerospace company’s stock valued at $2,911,000 after purchasing an additional 6,648 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of AeroVironment by 37.1% in the 1st quarter. Advisors Asset Management Inc. now owns 14,636 shares of the aerospace company’s stock valued at $2,243,000 after purchasing an additional 3,958 shares during the last quarter. American International Group Inc. boosted its stake in shares of AeroVironment by 3.1% in the 1st quarter. American International Group Inc. now owns 14,617 shares of the aerospace company’s stock valued at $2,240,000 after purchasing an additional 444 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of AeroVironment in the 1st quarter valued at $1,043,000. 86.38% of the stock is owned by institutional investors.

AeroVironment Stock Performance

Shares of AVAV stock opened at $195.91 on Friday. The firm has a 50-day moving average of $207.29 and a 200-day moving average of $194.07. The company has a market cap of $5.53 billion, a P/E ratio of 91.98 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04. AeroVironment, Inc. has a one year low of $116.51 and a one year high of $236.60.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.28. The company had revenue of $189.48 million during the quarter, compared to analyst estimates of $183.18 million. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. Equities research analysts forecast that AeroVironment, Inc. will post 3.36 EPS for the current fiscal year.

Insider Activity at AeroVironment

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 508 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $216.65, for a total transaction 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. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 1,782 shares of company stock worth $372,615. 1.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Jefferies Financial Group upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and dropped their target price for the company from $240.00 to $230.00 in a research report on Wednesday. Raymond James downgraded shares of AeroVironment from an “outperform” rating to a “market perform” rating in a research report on Monday, September 16th. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Robert W. Baird upgraded shares of AeroVironment from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $161.00 to $220.00 in a report on Wednesday, August 28th. One equities 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’s stock. According to data from MarketBeat, AeroVironment has an average rating of “Buy” and a consensus target price of $211.83.

AeroVironment Profile

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.