State of Wisconsin Investment Board lifted its position in shares of Avista Corp (NYSE:AVA) by 86.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 530,300 shares of the utilities provider’s stock after acquiring an additional 245,700 shares during the quarter. State of Wisconsin Investment Board’s holdings in Avista were worth $27,305,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Magnetar Financial LLC bought a new stake in shares of Avista during the third quarter worth $142,309,000. State Street Corp raised its position in shares of Avista by 3.7% during the second quarter. State Street Corp now owns 1,813,385 shares of the utilities provider’s stock worth $76,993,000 after acquiring an additional 65,314 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Avista by 136.9% during the third quarter. JPMorgan Chase & Co. now owns 1,605,798 shares of the utilities provider’s stock worth $82,891,000 after acquiring an additional 928,010 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Avista by 157.3% during the third quarter. Allianz Asset Management GmbH now owns 613,299 shares of the utilities provider’s stock worth $31,751,000 after acquiring an additional 374,970 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Avista during the fourth quarter worth $28,236,000. Institutional investors own 80.00% of the company’s stock.
Shares of Avista Corp (AVA) opened at $50.21 on Tuesday. 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 52 week low of $38.35 and a 52 week high of $52.83. The company has a market capitalization of $3,234.28, a price-to-earnings ratio of 25.23 and a beta of 0.32.
In related news, Director R John Taylor sold 932 shares of Avista stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $51.94, for a total transaction of $48,408.08. Following the completion of the sale, the director now directly owns 655 shares of the company’s stock, valued at $34,020.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jason R. Thackston sold 1,500 shares of Avista stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $51.58, for a total value of $77,370.00. Following the sale, the insider now directly owns 22,974 shares of the company’s stock, valued at $1,184,998.92. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Separately, ValuEngine cut Avista from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.75.
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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.
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