Weiss Asset Management LP Acquires New Stake in Aveanna Healthcare Holdings Inc. $AVAH

Weiss Asset Management LP acquired a new stake in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 113,695 shares of the company’s stock, valued at approximately $732,000. Weiss Asset Management LP owned about 0.05% of Aveanna Healthcare as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVAH. Entropy Technologies LP purchased a new stake in shares of Aveanna Healthcare during the first quarter valued at $156,000. State of Wyoming increased its stake in Aveanna Healthcare by 15.7% in the 1st quarter. State of Wyoming now owns 73,838 shares of the company’s stock worth $476,000 after buying an additional 9,995 shares during the period. Dimensional Fund Advisors LP increased its stake in Aveanna Healthcare by 49.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,334,374 shares of the company’s stock worth $8,593,000 after buying an additional 441,707 shares during the period. Precision Wealth Strategies LLC lifted its holdings in Aveanna Healthcare by 4.6% during the 1st quarter. Precision Wealth Strategies LLC now owns 137,706 shares of the company’s stock valued at $887,000 after buying an additional 6,115 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Aveanna Healthcare by 11.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 66,668 shares of the company’s stock valued at $419,000 after buying an additional 6,823 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Aveanna Healthcare Price Performance

NASDAQ AVAH opened at $9.67 on Tuesday. The company has a market cap of $2.11 billion, a PE ratio of 8.19, a P/E/G ratio of 0.94 and a beta of 1.89. The firm’s 50 day moving average price is $8.24 and its 200-day moving average price is $7.68. The company has a debt-to-equity ratio of 5.35, a quick ratio of 1.47 and a current ratio of 1.47. Aveanna Healthcare Holdings Inc. has a 52-week low of $3.73 and a 52-week high of $10.32.

Aveanna Healthcare (NASDAQ:AVAH) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $647.91 million during the quarter, compared to the consensus estimate of $613.22 million. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Aveanna Healthcare Holdings Inc. will post 0.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Aveanna Healthcare news, major shareholder Paul R. Vigano 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 transaction, the insider owned 190,130 shares in the company, valued at $1,522,941.30. The trade was a 94.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick A. Cunningham sold 125,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $7.59, for a total transaction of $948,750.00. Following the completion of the transaction, the insider owned 212,755 shares of the company’s stock, valued at $1,614,810.45. This represents a 37.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 31,305,664 shares of company stock valued at $215,555,910. Company insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stephens raised shares of Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $11.00 in a research report on Friday, May 15th. Royal Bank Of Canada raised shares of Aveanna Healthcare from a “sector perform” rating to an “outperform” rating and set a $10.00 price target for the company in a research note on Wednesday, June 3rd. Truist Financial increased their price objective on Aveanna Healthcare from $9.00 to $11.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. Finally, Barclays lifted their target price on Aveanna Healthcare from $9.00 to $9.50 and gave the company an “overweight” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.78.

Aveanna Healthcare Company Profile

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.