AEVEX Corp. (NYSE:AVEX – Get Free Report) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 3,500,519 shares, a growth of 274.7% from the June 15th total of 934,262 shares. Based on an average daily trading volume, of 2,932,643 shares, the days-to-cover ratio is currently 1.2 days. Currently, 3.1% of the shares of the stock are short sold.
AEVEX Stock Down 3.6%
NYSE AVEX traded down $0.59 on Monday, hitting $15.87. 1,726,815 shares of the company were exchanged, compared to its average volume of 2,678,020. AEVEX has a twelve month low of $15.07 and a twelve month high of $42.34. The company has a market cap of $1.81 billion and a price-to-earnings ratio of 63.48. The company’s 50 day moving average price is $23.42.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Zacks Research raised shares of AEVEX to a “hold” rating in a research note on Wednesday, May 13th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of AEVEX in a research report on Thursday, May 21st. JPMorgan Chase & Co. upped their price target on AEVEX from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Royal Bank Of Canada assumed coverage on AEVEX in a research note on Tuesday, May 12th. They set an “outperform” rating and a $31.00 price objective for the company. Finally, Bank of America started coverage on AEVEX in a research note on Tuesday, May 12th. They set a “buy” rating and a $34.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, AEVEX presently has an average rating of “Moderate Buy” and a consensus target price of $35.62.
Insider Transactions at AEVEX
In other AEVEX news, major shareholder Madison Dearborn Partners Llc sold 2,273,843 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $25.99, for a total value of $59,097,179.57. Following the completion of the sale, the insider directly owned 22,861,457 shares of the company’s stock, valued at approximately $594,169,267.43. This represents a 9.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd Booth purchased 13,000 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was acquired at an average cost of $20.00 per share, with a total value of $260,000.00. Following the completion of the acquisition, the chief financial officer directly owned 13,000 shares in the company, valued at $260,000. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 74,150 shares of company stock valued at $1,483,000 in the last three months.
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