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

Key Points

• Aveanna Healthcare experienced a significant increase in trading volume, with approximately 531,291 shares exchanged, marking a 10% rise from the previous session.
• Analysts have mixed views on Aveanna Healthcare, with target prices ranging from $5.00 to $9.00, resulting in a consensus rating of "Moderate Buy."
• Insider trading activity showed major shareholders selling a combined 3.12 million shares at an average price of $5.36, resulting in a 5% decrease in their ownership stakes.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) saw strong trading volume on Monday . 531,291 shares changed hands during trading, an increase of 10% from the previous session's volume of 484,024 shares.The stock last traded at $6.80 and had previously closed at $6.14.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AVAH shares. Truist Financial lowered their target price on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. Barclays initiated coverage on shares of Aveanna Healthcare in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $5.50 target price on the stock. Raymond James Financial upgraded shares of Aveanna Healthcare from a "hold" rating to a "moderate buy" rating and set a $9.00 price target for the company in a report on Monday. Jefferies Financial Group upgraded shares of Aveanna Healthcare from a "hold" rating to a "buy" rating and dropped their price objective for the company from $6.25 to $6.00 in a research note on Monday, July 21st. Finally, UBS Group boosted their price objective on shares of Aveanna Healthcare from $5.00 to $6.75 and gave the stock a "sell" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.45.

Aveanna Healthcare Stock Down 1.7%

The firm has a market capitalization of $1.48 billion, a PE ratio of 88.50 and a beta of 1.95. The company's 50-day simple moving average is $4.77 and its 200 day simple moving average is $4.87.

Insiders Place Their Bets

In related news, CAO Deborah Stewart sold 15,457 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $5.56, for a total transaction of $85,940.92. Following the transaction, the chief accounting officer directly owned 285,396 shares of the company's stock, valued at $1,586,801.76. This represents a 5.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder J.H. Whitney Equity Partners V sold 1,560,700 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $5.36, for a total value of $8,365,352.00. Following the completion of the sale, the insider owned 29,640,756 shares of the company's stock, valued at approximately $158,874,452.16. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,977,245 shares of company stock valued at $37,037,197. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aveanna Healthcare

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its position in Aveanna Healthcare by 105.0% during the 4th quarter. Millennium Management LLC now owns 400,374 shares of the company's stock worth $1,830,000 after purchasing an additional 205,023 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Aveanna Healthcare by 577.0% during the fourth quarter. Legal & General Group Plc now owns 36,409 shares of the company's stock valued at $166,000 after buying an additional 31,031 shares during the last quarter. Deutsche Bank AG increased its position in shares of Aveanna Healthcare by 32.1% in the 4th 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Aveanna Healthcare in the 4th quarter worth $223,000. Finally, Teacher Retirement System of Texas lifted its position in Aveanna Healthcare by 50.9% during the 1st quarter. Teacher Retirement System of Texas now owns 49,881 shares of the company's stock worth $270,000 after acquiring an additional 16,835 shares during the period. Institutional investors and hedge funds 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.