Aveanna Healthcare (NASDAQ:AVAH) Sees Strong Trading Volume - Still a Buy?

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) shares saw strong trading volume on Tuesday . 849,643 shares traded hands during trading, an increase of 142% from the previous session's volume of 351,202 shares.The stock last traded at $5.58 and had previously closed at $5.47.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVAH. Truist Financial cut their price objective on shares of Aveanna Healthcare from $6.00 to $5.50 and set a "hold" rating for the company in a research report on Friday, April 11th. UBS Group boosted their price objective on shares of Aveanna Healthcare from $4.50 to $5.00 and gave the company a "sell" rating in a research report on Friday, May 9th.

Aveanna Healthcare Stock Down 3.3%

The business's fifty day moving average is $5.09 and its 200-day moving average is $4.92. The stock has a market capitalization of $957.91 million, a PE ratio of -14.44 and a beta of 2.03.

Insiders Place Their Bets

In other Aveanna Healthcare news, major shareholder J.H. Whitney Equity Partners V sold 1,560,700 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $5.36, for a total transaction of $8,365,352.00. Following the completion of the sale, the insider now directly owns 29,640,756 shares in the company, valued at $158,874,452.16. The trade was a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Robert M. Williams, Jr. sold 91,061 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $5.84, for a total transaction of $531,796.24. Following the sale, the insider now owns 545,330 shares of the company's stock, valued at approximately $3,184,727.20. This represents a 14.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,182,757 shares of company stock worth $38,210,198 over the last ninety days. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Aveanna Healthcare by 4.0% in the first quarter. Rhumbline Advisers now owns 75,581 shares of the company's stock valued at $410,000 after purchasing an additional 2,918 shares during the period. Strs Ohio acquired a new stake in Aveanna Healthcare in the first quarter valued at $218,000. Acadian Asset Management LLC raised its holdings in Aveanna Healthcare by 9.2% in the first quarter. Acadian Asset Management LLC now owns 352,215 shares of the company's stock valued at $1,902,000 after acquiring an additional 29,811 shares in the last quarter. Jane Street Group LLC raised its holdings in Aveanna Healthcare by 522.0% in the first quarter. Jane Street Group LLC now owns 75,081 shares of the company's stock valued at $407,000 after acquiring an additional 63,010 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Aveanna Healthcare by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company's stock valued at $1,842,000 after acquiring an additional 25,974 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.