273,277 Shares in Aveanna Healthcare Holdings Inc. $AVAH Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 273,277 Aveanna Healthcare shares worth approximately $2.34 million, while institutional investors collectively own 87.96% of the company.
• Major shareholders sold 4.5 million shares at $11.50 each, and insiders have sold nearly 59.9 million shares worth $649.3 million over the past 90 days.
• Aveanna reported quarterly EPS of $0.22, beating estimates by $0.05, and revenue of $670.5 million; analysts maintain a “Moderate Buy” consensus with an average price target of $13.50.

Bank of New York Mellon Corp bought a new stake in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 273,277 shares of the company's stock, valued at approximately $2,342,000. Bank of New York Mellon Corp owned about 0.13% of Aveanna Healthcare at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its stake in Aveanna Healthcare by 252.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock valued at $27,000 after acquiring an additional 2,400 shares in the last quarter. Summit Securities Group LLC purchased a new position in Aveanna Healthcare during the 1st quarter worth $53,000. Quantbot Technologies LP purchased a new position in Aveanna Healthcare during the 2nd quarter worth $43,000. Entropy Technologies LP acquired a new position in Aveanna Healthcare during the 3rd quarter valued at about $107,000. Finally, Oxford Asset Management LLP acquired a new position in Aveanna Healthcare during the 2nd quarter valued at about $64,000. Institutional investors own 87.96% of the company's stock.

Insider Transactions at Aveanna Healthcare

In related news, major shareholder J.H. Whitney Equity Partners V sold 2,250,000 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $11.50, for a total transaction of $25,875,000.00. Following the sale, the insider directly owned 12,315,892 shares of the company's stock, valued at $141,632,758. This trade represents a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Robert Williams, Jr. sold 2,250,000 shares of Aveanna Healthcare stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $11.50, for a total value of $25,875,000.00. Following the transaction, the insider owned 12,315,892 shares of the company's stock, valued at approximately $141,632,758. This represents a 15.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 59,904,505 shares of company stock valued at $649,301,514. 5.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AVAH has been the subject of several recent analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. Truist Financial lifted their price objective on shares of Aveanna Healthcare from $11.00 to $15.00 and gave the stock a "hold" rating in a research note on Monday, August 24th. Wall Street Zen lowered shares of Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. UBS Group upped their target price on Aveanna Healthcare from $8.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, August 14th. Finally, Raymond James Financial boosted their price target on Aveanna Healthcare from $13.00 to $15.00 and gave the company a "strong-buy" rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Aveanna Healthcare has a consensus rating of "Moderate Buy" and an average target price of $13.50.

Aveanna Healthcare Price Performance

AVAH stock opened at $13.58 on Tuesday. The firm's fifty day simple moving average is $10.79 and its 200-day simple moving average is $8.35. The company has a market capitalization of $2.96 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.85 and a beta of 1.97. The company has a debt-to-equity ratio of 4.47, a current ratio of 1.16 and a quick ratio of 1.16. Aveanna Healthcare Holdings Inc. has a 12 month low of $5.93 and a 12 month high of $14.00.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $670.48 million during the quarter, compared to analysts' expectations of $638.61 million. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. As a group, equities research analysts forecast that Aveanna Healthcare Holdings Inc. will post 0.75 earnings per share for the current year.

Aveanna Healthcare Profile

Aveanna Healthcare, Inc NASDAQ: AVAH is a national provider of in-home health care services, specializing in pediatric skilled nursing, therapy, and related support for medically complex and chronically ill children. The company delivers a range of clinical and therapeutic solutions designed to enable patients to receive care in the comfort of their own homes, reducing the need for hospital stays and long-term institutional care. Aveanna's offerings include registered nursing, physical, occupational and speech therapy, behavioral health counseling, and durable medical equipment coordination.

In addition to pediatric home health services, Aveanna operates adult home health and personal care support programs, assisting elderly and disabled adults with daily living activities, medication management, and rehabilitation therapies.

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