Insider Selling: Avista Corp (NYSE:AVA) SVP Sells 6,500 Shares of Stock
Avista Corp (NYSE:AVA) SVP Jason R. Thackston sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $46.82, for a total value of $304,330.00. Following the completion of the sale, the senior vice president now owns 17,452 shares of the company’s stock, valued at $817,102.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE:AVA traded down $0.30 during trading on Friday, reaching $47.24. The stock had a trading volume of 7,671 shares, compared to its average volume of 292,291. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.39 and a current ratio of 0.52. The business has a fifty day moving average price of $46.26 and a 200-day moving average price of $43.34. The stock has a market cap of $3.18 billion, a PE ratio of 22.39, a PEG ratio of 7.45 and a beta of 0.38. Avista Corp has a 1-year low of $39.75 and a 1-year high of $52.70.
Avista (NYSE:AVA) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. The firm had revenue of $300.81 million for the quarter, compared to analyst estimates of $315.08 million. Avista had a return on equity of 6.35% and a net margin of 14.43%. During the same period in the previous year, the company posted $0.39 earnings per share. Sell-side analysts expect that Avista Corp will post 1.95 earnings per share for the current year.
A number of analysts have recently commented on AVA shares. KeyCorp restated an “underweight” rating and issued a $35.00 price objective on shares of Avista in a research report on Wednesday, June 5th. ValuEngine upgraded Avista from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Bank of America started coverage on Avista in a research report on Thursday, May 9th. They issued an “underperform” rating and a $43.00 price objective for the company. Zacks Investment Research upgraded Avista from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, TheStreet upgraded Avista from a “c+” rating to a “b-” rating in a research report on Monday, June 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $41.60.
Several large investors have recently modified their holdings of AVA. Acadian Asset Management LLC acquired a new stake in shares of Avista in the first quarter worth approximately $40,892,000. BlackRock Inc. boosted its stake in shares of Avista by 8.1% in the first quarter. BlackRock Inc. now owns 12,524,697 shares of the utilities provider’s stock worth $508,754,000 after acquiring an additional 938,978 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Avista in the second quarter worth approximately $22,734,000. Renaissance Technologies LLC boosted its stake in shares of Avista by 35.9% in the second quarter. Renaissance Technologies LLC now owns 1,790,430 shares of the utilities provider’s stock worth $79,853,000 after acquiring an additional 472,588 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Avista by 68.1% in the second quarter. Invesco Ltd. now owns 1,104,297 shares of the utilities provider’s stock worth $49,252,000 after acquiring an additional 447,492 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
Avista Corporation operates as an electric and natural gas utility company. It operates through 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.
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