Paul Vigano Sells 1,500,000 Shares of Aveanna Healthcare (NASDAQ:AVAH) Stock

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) major shareholder Paul Vigano sold 1,500,000 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $9.00, for a total value of $13,500,000.00. Following the sale, the insider owned 362,746 shares of the company’s stock, valued at $3,264,714. This trade represents a 80.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Aveanna Healthcare Price Performance

Aveanna Healthcare stock opened at $9.86 on Thursday. Aveanna Healthcare Holdings Inc. has a 12 month low of $3.67 and a 12 month high of $10.32. The business has a 50 day simple moving average of $8.65 and a 200-day simple moving average of $6.27. The stock has a market capitalization of $2.06 billion, a PE ratio of 123.25 and a beta of 2.05.

Aveanna Healthcare (NASDAQ:AVAH) last released its quarterly earnings results on Monday, May 22nd. The company reported $0.04 EPS for the quarter. Aveanna Healthcare had a negative return on equity of 54.56% and a net margin of 0.85%.The business had revenue of $450.53 million during the quarter. As a group, equities research analysts anticipate that Aveanna Healthcare Holdings Inc. will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AVAH. Truist Financial cut their price target on Aveanna Healthcare from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, July 16th. Jefferies Financial Group increased their price objective on Aveanna Healthcare from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upgraded Aveanna Healthcare from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $6.00 to $10.00 in a research report on Thursday, September 18th. Barclays upgraded Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $5.50 to $9.50 in a research report on Tuesday, August 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Aveanna Healthcare in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.29.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Summit Partners L P purchased a new position in shares of Aveanna Healthcare in the second quarter valued at $50,477,000. Assenagon Asset Management S.A. purchased a new position in shares of Aveanna Healthcare in the third quarter valued at $7,356,000. First Eagle Investment Management LLC increased its position in shares of Aveanna Healthcare by 12.1% in the second quarter. First Eagle Investment Management LLC now owns 810,667 shares of the company’s stock valued at $4,240,000 after buying an additional 87,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Aveanna Healthcare by 103.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 664,890 shares of the company’s stock valued at $3,477,000 after buying an additional 338,746 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Aveanna Healthcare by 207.0% in the second quarter. Squarepoint Ops LLC now owns 479,977 shares of the company’s stock valued at $2,510,000 after buying an additional 323,656 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

About Aveanna Healthcare

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides pediatric and adult healthcare services in the United States. Its patient-centered care delivery platform allows patients to remain in their homes and minimizes the overutilization of high-cost care settings, such as hospitals or skilled nursing facilities.