Lynch Associatesin Lowers stake in Avista Corp (AVA)

Avista Corp (AVA) : Lynch Associatesin reduced its stake in Avista Corp by 2.49% during the most recent quarter end. The investment management company now holds a total of 8,800 shares of Avista Corp which is valued at $347,160 after selling 225 shares in Avista Corp , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Avista Corp makes up approximately 0.15% of Lynch Associatesin’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank boosted its stake in AVA in the latest quarter, The investment management firm added 38 additional shares and now holds a total of 4,012 shares of Avista Corp which is valued at $158,273. Avista Corp makes up approx 0.04% of Washington Trust Bank’s portfolio.

Avista Corp closed down -1.41 points or -3.43% at $39.73 with 2,82,415 shares getting traded on Tuesday. Post opening the session at $41.03, the shares hit an intraday low of $39.56 and an intraday high of $41.07 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Avista Corp reported $0.43 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.44. The company had revenue of $318.80 million for the quarter, compared to analysts expectations of $316.24 million. The company’s revenue was down -5.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.

Avista Corporation is primarily an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities and Alaska Electric Light and Power Company (AEL&P). Avista Utilities provides electric distribution and transmission as well as natural gas distribution services in parts of eastern Washington and northern Idaho. It also provides natural gas distribution service in parts of northeastern and southwestern Oregon. AEL&P owns and operates electric generation transmission and distribution facilities located in Juneau. The Company operates other businesses including sheet metal fabrication venture fund investments and real estate investments.

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