Sanctuary Wealth Management L.L.C. Invests $28,000 in Avista Co. (NYSE:AVA)

Sanctuary Wealth Management L.L.C. acquired a new stake in Avista Co. (NYSE:AVA) during the 3rd quarter, HoldingsChannel reports. The firm acquired 722 shares of the utilities provider’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in shares of Avista in the first quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in Avista in the 3rd quarter worth about $29,000. Quest Partners LLC purchased a new stake in shares of Avista during the 2nd quarter worth about $40,000. EntryPoint Capital LLC bought a new stake in shares of Avista in the 1st quarter valued at approximately $73,000. Finally, Blue Trust Inc. grew its stake in shares of Avista by 559.7% in the 3rd quarter. Blue Trust Inc. now owns 3,061 shares of the utilities provider’s stock valued at $119,000 after buying an additional 2,597 shares in the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

Insider Transactions at Avista

In related news, VP David J. Meyer sold 2,400 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $38.32, for a total transaction of $91,968.00. Following the completion of the sale, the vice president now owns 5,436 shares in the company, valued at $208,307.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is currently owned by corporate insiders.

Avista Stock Performance

Shares of AVA stock traded up $0.77 during trading on Friday, reaching $37.32. The company had a trading volume of 628,218 shares, compared to its average volume of 445,993. The firm’s 50 day simple moving average is $38.05 and its two-hundred day simple moving average is $37.20. Avista Co. has a one year low of $31.91 and a one year high of $39.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.60. The company has a market capitalization of $2.95 billion, a PE ratio of 14.87, a PEG ratio of 3.28 and a beta of 0.47.

Avista (NYSE:AVA) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.10. Avista had a net margin of 10.24% and a return on equity of 7.83%. The company had revenue of $383.70 million for the quarter, compared to analyst estimates of $389.29 million. During the same quarter last year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that Avista Co. will post 2.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Bank of America assumed coverage on shares of Avista in a research report on Thursday, September 12th. They issued an “underperform” rating and a $37.00 target price for the company.

About Avista

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.