Hsbc Holdings PLC Boosts Holdings in Aveanna Healthcare Holdings Inc. $AVAH

Hsbc Holdings PLC lifted its holdings in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) by 465.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,029 shares of the company’s stock after purchasing an additional 62,584 shares during the period. Hsbc Holdings PLC’s holdings in Aveanna Healthcare were worth $493,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Aveanna Healthcare by 38.0% during the 4th quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company’s stock worth $45,564,000 after buying an additional 1,535,351 shares during the period. Geode Capital Management LLC boosted its position in Aveanna Healthcare by 17.7% in the 4th quarter. Geode Capital Management LLC now owns 1,849,057 shares of the company’s stock valued at $15,110,000 after buying an additional 278,429 shares during the period. Nuveen LLC grew its stake in shares of Aveanna Healthcare by 135.9% in the fourth quarter. Nuveen LLC now owns 1,571,308 shares of the company’s stock worth $12,838,000 after acquiring an additional 905,316 shares in the last quarter. State Street Corp grew its stake in shares of Aveanna Healthcare by 20.9% in the fourth quarter. State Street Corp now owns 1,483,265 shares of the company’s stock worth $12,118,000 after acquiring an additional 256,392 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Aveanna Healthcare by 70.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,130,912 shares of the company’s stock worth $10,031,000 after acquiring an additional 466,022 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Aveanna Healthcare news, insider Patrick A. Cunningham sold 125,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $7.59, for a total value of $948,750.00. Following the sale, the insider directly owned 212,755 shares in the company, valued at $1,614,810.45. This trade represents a 37.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder J.H. Whitney Equity Partners V sold 2,419,035 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 $19,376,470.35. Following the sale, the insider directly owned 10,112,123 shares of the company’s stock, valued at $80,998,105.23. This trade represents a 19.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,305,664 shares of company stock valued at $215,555,910 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Aveanna Healthcare Trading Down 3.1%

Shares of NASDAQ:AVAH opened at $9.39 on Friday. Aveanna Healthcare Holdings Inc. has a 52 week low of $3.73 and a 52 week high of $10.32. The company’s 50 day moving average is $8.41 and its two-hundred day moving average is $7.71. The company has a market cap of $2.04 billion, a PE ratio of 7.96, a P/E/G ratio of 0.96 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 released its quarterly earnings data on Thursday, May 14th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $647.91 million during the quarter, compared to analysts’ expectations of $613.22 million. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. Aveanna Healthcare’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts predict that Aveanna Healthcare Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Aveanna Healthcare 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.