Insider Selling: Avista Corp (AVA) Director Sells $48,408.08 in Stock

Avista Corp (NYSE:AVA) Director R John Taylor sold 932 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $51.94, for a total value of $48,408.08. Following the sale, the director now owns 655 shares of the company’s stock, valued at approximately $34,020.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Avista Corp (NYSE AVA) traded up $0.01 during mid-day trading on Friday, reaching $51.58. The company’s stock had a trading volume of 708,100 shares, compared to its average volume of 395,680. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.37 and a current ratio of 0.47. Avista Corp has a twelve month low of $37.78 and a twelve month high of $52.83. The stock has a market capitalization of $3,320.00, a PE ratio of 25.02 and a beta of 0.42.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.3575 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.43 annualized dividend and a yield of 2.77%. Avista’s dividend payout ratio is currently 71.86%.

A number of hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System boosted its position in Avista by 3.7% in the third quarter. California Public Employees Retirement System now owns 158,171 shares of the utilities provider’s stock worth $8,189,000 after purchasing an additional 5,591 shares during the last quarter. Pentwater Capital Management LP purchased a new position in Avista in the third quarter worth $13,913,000. Saturna Capital CORP purchased a new position in Avista in the third quarter worth $233,000. Magnetar Financial LLC purchased a new position in Avista in the third quarter worth $142,309,000. Finally, AMP Capital Investors Ltd boosted its position in Avista by 33.9% in the third quarter. AMP Capital Investors Ltd now owns 17,000 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 4,300 shares during the last quarter. 77.35% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently issued reports on AVA. Zacks Investment Research downgraded Avista from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. KeyCorp reiterated a “hold” rating on shares of Avista in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.75.

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About Avista

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.

Insider Buying and Selling by Quarter for Avista (NYSE:AVA)

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