BlackRock Fund Advisors has recently announced that it has increased stake in Avista Corp. (NYSE:AVA) by 3.24%. After grabbing 13.45 million shares, the institutional investor is now in possession of 0.42 million shares of the Utilities Company. The new investment brought the stake of investor firm to 17.38% having worth around $480.62 million. Moreover, The Vanguard Group, Inc. increased its share by 0.16 million to have a control over 9.27 million shares. And First Trust Advisors LP raised its holdings to 0.22 million shares by acquiring 2.19 million shares or 2.83% of the stake.
Avista Corp. (AVA) concluded trading on Wednesday at a closing price of $33.40, with 3.0 million shares of worth about $100.12 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -15.25% during that period and On Wednesday, January 24 the price saw a loss of about -2.51%. Currently the company’s common shares owned by public are about 77.37M shares, out of which, 76.65M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 53 times over the past 12 months. They bought 88,980 shares in 40 of the transactions. In 13 selling transactions, insiders dumped 69,251 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Avista Corp. iShares Core S&P Small Cap ETF is currently holding 5.14 million shares of worth totaling $183.7 million. The company recently came buying 0.0 shares which brought its stake up to 6.64% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 3094.0 shares, after which its hold over company’s outstanding shares expand to 3.12%, leaving 2.41 million shares with the mutual fund that have a worth of about $86.2 million. iShares Russell 2000 ETF, after buying 2.03 million shares, have now control over 2.63% of the stake in the company. It holds 0.0 shares of worth $72.72 million.
However, the stock later moved at a day high price of 34.70, or with a loss of -2.51%. Stock saw a price change of -1.56% in past 5 days and over the past one month there was a price change of -6.07%. Year-to-date (YTD), AVA shares are showing a performance of -6.55% which decreased to -18.93% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $30.53 but also hit the highest price of $45.13 during that period. The average intraday trading volume for Avista Corp. shares is 581.19K. The stock is currently trading -5.55% below its 20-day simple moving average (SMA20), while that difference is down -4.65% for SMA50 and it goes to -9.90% lower than SMA200.
BlackRock Fund Advisors acquired 13.45 million shares of Avista Corp. having value of about $480.62 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.42 million shares in the company valued at close to $14092662.4, or have control over 3.24% stake in the company. Avista Corp. (NYSE: AVA) currently have 77.37M outstanding shares and institutions hold larger chunk of about 86.95% of that. Holding of mutual funds in the company is about 31.47% while other institutional holders and individual stake holders have control over 56.62% and 1.77% of the stake respectively.
The stock has a current market capitalization of $2.58B and its 3Y-monthly beta is at 0.50. PE ratio of stock for trailing 12 months is 15.25, while it has posted earnings per share of $2.19 in the same period. Its PEG reads 2.58 and has Quick Ratio of 0.69 while making debt-to-equity ratio of 1.21. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AVA, volatility over the week remained 2.27% while standing at 1.95% over the month.
Analysts are in expectations that Avista Corp. (AVA) stock would likely to be making an EPS of $1.14 in the current quarter, while forecast for next quarter EPS is $0.92 and it is $2.41 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.13 which is $1.14 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 8.04% while it is estimated to increase by 6.76% in next year. EPS is likely to grow at an annualized rate of 5.90% for next 5-years, compared to annual growth of 3.49% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Guggenheim on January 22, 2024 offering a Neutral rating for the stock and assigned a target price of $34 to it.
