Cim Investment Management Inc. Has $238,000 Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Cim Investment Management Inc. cut its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 59.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,304 shares of the aerospace company’s stock after selling 1,930 shares during the period. Cim Investment Management Inc.’s holdings in AeroVironment were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in AeroVironment in the first quarter valued at approximately $26,000. Canada Pension Plan Investment Board bought a new stake in shares of AeroVironment in the 2nd quarter valued at $36,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of AeroVironment during the 1st quarter valued at $38,000. GAMMA Investing LLC boosted its stake in AeroVironment by 50.2% during the first quarter. GAMMA Investing LLC now owns 401 shares of the aerospace company’s stock worth $61,000 after acquiring an additional 134 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in AeroVironment in the first quarter worth $61,000. 86.38% of the stock is owned by institutional investors and hedge funds.

AeroVironment Stock Up 2.3 %

Shares of NASDAQ:AVAV opened at $199.23 on Friday. The business’s 50 day moving average is $182.85 and its 200 day moving average is $177.57. AeroVironment, Inc. has a 12-month low of $104.67 and a 12-month high of $224.00. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 89.74 and a beta of 0.50. The company has a quick ratio of 3.04, a current ratio of 4.26 and a debt-to-equity ratio of 0.01.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.28. The firm had revenue of $189.48 million for the quarter, compared to the consensus estimate of $183.18 million. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. On average, sell-side analysts forecast that AeroVironment, Inc. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $196.22, for a total value of $77,703.12. Following the transaction, the chief financial officer now owns 18,254 shares in the company, valued at approximately $3,581,799.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Wahid Nawabi sold 9,867 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $169.23, for a total transaction of $1,669,792.41. Following the completion of the sale, the chief executive officer now owns 99,892 shares in the company, valued at $16,904,723.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Patrick Mcdonnell sold 396 shares of AeroVironment stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $196.22, for a total transaction of $77,703.12. Following the completion of the sale, the chief financial officer now directly owns 18,254 shares in the company, valued at approximately $3,581,799.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,287 shares of company stock valued at $1,928,305. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

AVAV has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Raymond James downgraded AeroVironment from an “outperform” rating to a “market perform” rating in a research note on Monday, September 16th. Alembic Global Advisors raised AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective for the company in a research note on Wednesday, August 28th. Baird R W raised AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, BTIG Research reissued a “buy” rating and issued a $245.00 price target on shares of AeroVironment in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.20.

AeroVironment Company 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.