Aveanna Healthcare (NASDAQ:AVAH) Sets New 12-Month High - Here's What Happened

Key Points

• Aveanna Healthcare (NASDAQ:AVAH) reached a new 52-week high of $7.62 during trading, with the latest price at $7.15 and a significant volume of 1,918,049 shares traded.
• Analyst ratings for Aveanna Healthcare are mixed, with a consensus rating of "Hold" and an average target price of $6.45, influenced by upgrades and downgrades from various research firms.
• Insider activity showed significant stock sales, including major shareholder Robert M. Williams, Jr. selling 750,000 shares for $3.9 million, reflecting a broader pattern of insider selling.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.62 and last traded at $7.15, with a volume of 1918049 shares changing hands. The stock had previously closed at $7.24.

Analyst Ratings Changes

Several equities analysts have issued reports on AVAH shares. 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. Raymond James Financial upgraded Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 price target on the stock in a research note on Monday, August 11th. UBS Group lifted their price target on Aveanna Healthcare from $5.00 to $6.75 and gave the company a "sell" rating in a research note on Tuesday, August 12th. Jefferies Financial Group upgraded Aveanna Healthcare from a "hold" rating to a "buy" rating and decreased their price target for the company from $6.25 to $6.00 in a research note on Monday, July 21st. Finally, Truist Financial decreased their price target on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $6.45.

Aveanna Healthcare Price Performance

The stock has a 50-day simple moving average of $4.77 and a 200 day simple moving average of $4.87. The company has a market capitalization of $1.49 billion, a PE ratio of 89.20 and a beta of 1.95.

Insiders Place Their Bets

In related news, major shareholder Robert M. Williams, Jr. sold 750,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $5.20, for a total value of $3,900,000.00. Following the sale, the insider directly owned 28,890,756 shares in the company, valued at $150,231,931.20. The trade was a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick A. Cunningham sold 18,500 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $4.93, for a total transaction of $91,205.00. Following the completion of the sale, the insider owned 327,869 shares in the company, valued at $1,616,394.17. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,295,145 shares of company stock worth $11,941,141. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aveanna Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its position in shares of Aveanna Healthcare by 105.0% in the fourth quarter. Millennium Management LLC now owns 400,374 shares of the company's stock valued at $1,830,000 after acquiring an additional 205,023 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Aveanna Healthcare by 577.0% in the fourth quarter. Legal & General Group Plc now owns 36,409 shares of the company's stock valued at $166,000 after acquiring an additional 31,031 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Aveanna Healthcare by 32.1% in the fourth quarter. Deutsche Bank AG now owns 34,564 shares of the company's stock valued at $158,000 after acquiring an additional 8,396 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Aveanna Healthcare in the fourth quarter valued at $223,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Aveanna Healthcare by 50.9% in the first quarter. Teacher Retirement System of Texas now owns 49,881 shares of the company's stock valued at $270,000 after acquiring an additional 16,835 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.