95,796 Aveanna Healthcare Holdings Inc. $AVAH Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Aveanna Healthcare position by 10.5%, selling 95,796 shares and retaining 814,596 shares worth approximately $10.1 million.
• Institutional investors own 87.96% of AVAH, while insiders have sold 48.6 million shares worth about $558.5 million over the past 90 days.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $14.06; Aveanna recently exceeded quarterly earnings and revenue estimates.

Assenagon Asset Management S.A. lowered its position in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 10.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 814,596 shares of the company's stock after selling 95,796 shares during the period. Assenagon Asset Management S.A. owned 0.37% of Aveanna Healthcare worth $10,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Aveanna Healthcare during the 2nd quarter worth $63,504,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Aveanna Healthcare in the 2nd quarter valued at approximately $7,881,000. Braidwell LP increased its position in shares of Aveanna Healthcare by 39.1% in the 2nd quarter. Braidwell LP now owns 3,065,106 shares of the company's stock valued at $26,268,000 after purchasing an additional 861,600 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Aveanna Healthcare in the 2nd quarter valued at $6,124,000. Finally, Parkman Healthcare Partners LLC acquired a new stake in shares of Aveanna Healthcare in the 2nd quarter valued at $6,123,000. Institutional investors and hedge funds own 87.96% of the company's stock.

Insider Activity

In other Aveanna Healthcare news, major shareholder Paul Vigano sold 14,500,002 shares of the business's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $11.50, for a total transaction of $166,750,023.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rodney Windley sold 180,000 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total transaction of $2,070,000.00. Following the completion of the sale, the director directly owned 2,078,017 shares of the company's stock, valued at approximately $23,897,195.50. This represents a 7.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,566,081 shares of company stock worth $558,509,932 in the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVAH has been the topic of a number of analyst reports. Truist Financial lifted their price target on Aveanna Healthcare from $11.00 to $15.00 and gave the company a "hold" rating in a research note on Monday, August 24th. Weiss Ratings upgraded Aveanna Healthcare from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. JPMorgan Chase & Co. raised their target price on Aveanna Healthcare from $8.00 to $15.00 and gave the company a "neutral" rating in a report on Monday, September 14th. Wall Street Zen lowered shares of Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Barclays boosted their target price on shares of Aveanna Healthcare from $9.50 to $15.00 and gave the stock an "overweight" rating in a research report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.06.

Aveanna Healthcare Price Performance

Shares of AVAH opened at $12.44 on Tuesday. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.95. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16. Aveanna Healthcare Holdings Inc. has a one year low of $5.93 and a one year high of $14.71. The stock's fifty day moving average is $12.88 and its 200-day moving average is $9.61.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The business had revenue of $670.48 million during the quarter, compared to the consensus estimate of $638.61 million. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. Equities analysts anticipate that Aveanna Healthcare Holdings Inc. will post 0.77 EPS for the current year.

Aveanna Healthcare Company Profile

Aveanna Healthcare Holdings Inc NASDAQ: AVAH is a diversified healthcare provider focused on delivering medical and supportive care in patients' homes. The company primarily serves children and adults with complex medical needs, chronic conditions, disabilities, and other circumstances requiring ongoing assistance outside traditional healthcare settings.

Aveanna's services include private-duty nursing, skilled home health care, hospice and palliative care, personal care, and therapy services.

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