Insider Selling: Aveanna Healthcare (NASDAQ:AVAH) Major Shareholder Sells $24,030,000.00 in Stock

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) major shareholder Robert Williams, Jr. sold 3,000,000 shares of Aveanna Healthcare stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $8.01, for a total value of $24,030,000.00. Following the completion of the transaction, the insider directly owned 190,130 shares of the company’s stock, valued at approximately $1,522,941.30. This trade represents a 94.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Aveanna Healthcare Trading Up 3.7%

NASDAQ AVAH traded up $0.33 during trading hours on Thursday, hitting $9.19. 1,002,532 shares of the company’s stock were exchanged, compared to its average volume of 1,480,237. The stock has a 50-day simple moving average of $7.25 and a 200 day simple moving average of $7.56. Aveanna Healthcare Holdings Inc. has a 1-year low of $3.73 and a 1-year high of $10.32. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 0.88 and a beta of 1.89. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 5.35.

Aveanna Healthcare (NASDAQ:AVAH) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The firm had revenue of $647.91 million for the quarter, compared to analyst estimates of $613.22 million. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.Aveanna Healthcare’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts forecast that Aveanna Healthcare Holdings Inc. will post 0.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVAH. Stephens upgraded shares of Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $11.00 in a report on Friday, May 15th. Royal Bank Of Canada upgraded shares of Aveanna Healthcare from a “sector perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a report on Wednesday, June 3rd. Weiss Ratings downgraded Aveanna Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 6th. Truist Financial boosted their target price on Aveanna Healthcare from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, May 20th. Finally, Barclays dropped their price target on Aveanna Healthcare from $9.50 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Aveanna Healthcare has an average rating of “Moderate Buy” and an average target price of $10.50.

Institutional Investors Weigh In On Aveanna Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its position in Aveanna Healthcare by 252.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company’s stock valued at $27,000 after acquiring an additional 2,400 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Aveanna Healthcare in the second quarter worth approximately $43,000. Summit Securities Group LLC purchased a new stake in shares of Aveanna Healthcare in the first quarter worth approximately $53,000. Oxford Asset Management LLP bought a new position in shares of Aveanna Healthcare in the second quarter valued at approximately $64,000. Finally, Bayesian Capital Management LP bought a new position in shares of Aveanna Healthcare in the second quarter valued at approximately $85,000. 87.96% of the stock is owned by institutional investors.

About Aveanna Healthcare

Aveanna Healthcare, Inc (NASDAQ: AVAH) is a national provider of in-home health care services, specializing in pediatric skilled nursing, therapy, and related support for medically complex and chronically ill children. The company delivers a range of clinical and therapeutic solutions designed to enable patients to receive care in the comfort of their own homes, reducing the need for hospital stays and long-term institutional care. Aveanna’s offerings include registered nursing, physical, occupational and speech therapy, behavioral health counseling, and durable medical equipment coordination.

In addition to pediatric home health services, Aveanna operates adult home health and personal care support programs, assisting elderly and disabled adults with daily living activities, medication management, and rehabilitation therapies.