Avista Co. (NYSE:AVA – Get Free Report) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 2,800,000 shares, a decline of 6.0% from the May 31st total of 2,980,000 shares. Based on an average daily volume of 445,400 shares, the short-interest ratio is presently 6.3 days.
Insiders Place Their Bets
In other Avista news, SVP Bryan Alden Cox sold 1,716 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $35.70, for a total value of $61,261.20. Following the completion of the transaction, the senior vice president now owns 7,196 shares of the company’s stock, valued at $256,897.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Bryan Alden Cox sold 1,716 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $35.70, for a total value of $61,261.20. Following the completion of the transaction, the senior vice president now directly owns 7,196 shares in the company, valued at $256,897.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jason R. Thackston sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $36.98, for a total value of $92,450.00. Following the completion of the sale, the chief executive officer now owns 32,506 shares in the company, valued at approximately $1,202,071.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,916 shares of company stock valued at $215,268. Insiders own 0.96% of the company’s stock.
Institutional Trading of Avista
A number of institutional investors and hedge funds have recently made changes to their positions in AVA. Headlands Technologies LLC acquired a new stake in Avista in the 1st quarter valued at $27,000. Mather Group LLC. purchased a new position in Avista during the first quarter valued at $32,000. Quarry LP grew its position in shares of Avista by 67.9% in the fourth quarter. Quarry LP now owns 1,179 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 477 shares during the period. Strs Ohio increased its stake in shares of Avista by 33.3% during the fourth quarter. Strs Ohio now owns 2,000 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 500 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Avista during the 1st quarter worth about $73,000. 85.24% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on AVA
Avista Stock Performance
NYSE AVA traded down $0.08 during mid-day trading on Wednesday, reaching $33.88. 201,173 shares of the stock were exchanged, compared to its average volume of 538,593. The company has a market capitalization of $2.65 billion, a P/E ratio of 14.09 and a beta of 0.46. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.69 and a current ratio of 0.97. The business’s 50 day moving average is $36.06 and its 200-day moving average is $34.96. Avista has a 1 year low of $30.53 and a 1 year high of $40.13.
Avista (NYSE:AVA – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). Avista had a return on equity of 7.65% and a net margin of 9.96%. The firm had revenue of $594.90 million during the quarter, compared to analyst estimates of $469.34 million. During the same quarter last year, the company posted $0.73 EPS. The company’s revenue was up 29.3% on a year-over-year basis.
Avista Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 5.61%. The ex-dividend date was Wednesday, May 22nd. Avista’s payout ratio is currently 78.84%.
Avista Company Profile
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.
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