Aveanna Healthcare (NASDAQ:AVAH) Trading Down 4.8% - Time to Sell?

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report)'s share price was down 4.8% during mid-day trading on Wednesday . The company traded as low as $4.76 and last traded at $4.76. Approximately 79,756 shares were traded during trading, a decline of 76% from the average daily volume of 336,774 shares. The stock had previously closed at $5.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AVAH shares. Wall Street Zen downgraded shares of Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. UBS Group increased their price objective on shares of Aveanna Healthcare from $4.50 to $5.00 and gave the stock a "sell" rating in a research note on Friday, May 9th. Truist Financial reduced their price objective on shares of Aveanna Healthcare from $6.00 to $5.50 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, Barclays started coverage on shares of Aveanna Healthcare in a research note on Wednesday. They set an "equal weight" rating and a $5.50 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $5.20.

Aveanna Healthcare Trading Up 3.7%

The business's 50 day moving average price is $5.16 and its two-hundred day moving average price is $4.86. The company has a market capitalization of $902.29 million, a price-to-earnings ratio of 231.25 and a beta of 1.98.

Insider Buying and Selling

In related news, insider Patrick A. Cunningham sold 18,500 shares of Aveanna Healthcare stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $4.93, for a total transaction of $91,205.00. Following the sale, the insider directly owned 327,869 shares in the company, valued at $1,616,394.17. This trade represents a 5.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Paul R. Vigano sold 750,000 shares of Aveanna Healthcare stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total transaction of $3,900,000.00. Following the sale, the insider owned 28,890,756 shares in the company, valued at approximately $150,231,931.20. This represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,115,345 shares of company stock worth $37,838,057 in the last quarter. Corporate insiders own 7.80% of the company's stock.

Institutional Investors Weigh In On Aveanna Healthcare

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its holdings in Aveanna Healthcare by 11.1% during the 4th quarter. Rhumbline Advisers now owns 72,663 shares of the company's stock worth $332,000 after purchasing an additional 7,257 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Aveanna Healthcare by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 466,706 shares of the company's stock worth $2,133,000 after purchasing an additional 4,047 shares during the period. Arizona State Retirement System acquired a new position in shares of Aveanna Healthcare in the 4th quarter worth approximately $64,000. Raymond James Financial Inc. acquired a new position in shares of Aveanna Healthcare in the 4th quarter worth approximately $155,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Aveanna Healthcare by 21.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 190,570 shares of the company's stock worth $871,000 after purchasing an additional 33,468 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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.