Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) has received a consensus recommendation of "Moderate Buy" from five research firms, with an average 12-month price target of $7.50.
• Insider transactions reveal major shareholders sold 750,000 shares each at an average price of $5.20 on June 10th, indicating a 2.53% decrease in their holdings.
• Institutional investors have significantly increased their stakes, with Summit Partners L P purchasing a new stake worth approximately $50 million during the second quarter.

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.50.

AVAH has been the subject of several research reports. 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. Wall Street Zen raised shares of Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Jefferies Financial Group raised shares of Aveanna Healthcare from a "hold" rating to a "buy" rating and cut their target price for the company from $6.25 to $6.00 in a research note on Monday, July 21st. UBS Group raised shares of Aveanna Healthcare from a "sell" rating to a "neutral" rating and boosted their target price for the company from $6.75 to $8.00 in a research note on Tuesday. Finally, Raymond James Financial raised shares of Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 target price for the company in a research note on Monday, August 11th.

Aveanna Healthcare Stock Down 1.0%

NASDAQ:AVAH opened at $7.20 on Thursday. The company has a market capitalization of $1.50 billion, a PE ratio of 90.00 and a beta of 1.95. Aveanna Healthcare has a 52-week low of $3.67 and a 52-week high of $7.61. The stock has a fifty day simple moving average of $4.88 and a 200-day simple moving average of $4.92.

Insider Transactions at Aveanna Healthcare

In other news, major shareholder Robert M. Williams, Jr. sold 750,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the completion of the transaction, the insider owned 28,890,756 shares of the company's stock, valued at $150,231,931.20. This represents a 2.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder J.H. Whitney Equity Partners V sold 750,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the transaction, the insider directly owned 28,890,756 shares of the company's stock, valued at approximately $150,231,931.20. This represents a 2.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,295,145 shares of company stock worth $11,941,141 in the last ninety days. Company insiders own 7.80% of the company's stock.

Institutional Trading of Aveanna Healthcare

A number of institutional investors have recently modified their holdings of the company. Summit Partners L P purchased a new stake in shares of Aveanna Healthcare during the 2nd quarter worth about $50,477,000. First Eagle Investment Management LLC grew its holdings in shares of Aveanna Healthcare by 12.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 810,667 shares of the company's stock worth $4,240,000 after purchasing an additional 87,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Aveanna Healthcare by 103.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 664,890 shares of the company's stock worth $3,477,000 after purchasing an additional 338,746 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Aveanna Healthcare by 50.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 533,196 shares of the company's stock worth $2,437,000 after purchasing an additional 177,856 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in shares of Aveanna Healthcare by 207.0% during the 2nd quarter. Squarepoint Ops LLC now owns 479,977 shares of the company's stock worth $2,510,000 after purchasing an additional 323,656 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

Aveanna Healthcare Company Profile

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.

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