Aveanna Healthcare Holdings Inc. $AVAH Shares Purchased by Algert Global LLC

Key Points

• Algert Global LLC significantly increased its stake in Aveanna Healthcare by 180.2% during the 1st quarter, holding 120,745 shares valued at $654,000.
• Several large investors have also markedly increased their positions in Aveanna, with Russell Investments raising its stake by 648.7%, indicating growing institutional interest.
• Wall Street analysts have mixed ratings on Aveanna Healthcare, with price targets ranging from $5.00 to $9.50, reflecting uncertainty about the stock's performance.

Algert Global LLC raised its stake in shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 180.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,745 shares of the company's stock after purchasing an additional 77,650 shares during the period. Algert Global LLC owned 0.06% of Aveanna Healthcare worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its holdings in shares of Aveanna Healthcare by 50.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 533,196 shares of the company's stock worth $2,437,000 after buying an additional 177,856 shares during the period. Northern Trust Corp grew its stake in Aveanna Healthcare by 11.3% during the 4th quarter. Northern Trust Corp now owns 478,907 shares of the company's stock worth $2,189,000 after buying an additional 48,572 shares during the last quarter. Millennium Management LLC lifted 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 acquiring an additional 205,023 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Aveanna Healthcare by 71.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 326,144 shares of the company's stock worth $1,768,000 after acquiring an additional 135,574 shares during the period. Finally, Nuveen LLC acquired a new stake in Aveanna Healthcare during the 1st quarter worth about $1,692,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVAH. Barclays raised Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $5.50 to $9.50 in a report on Tuesday, August 19th. UBS Group raised Aveanna Healthcare from a "sell" rating to a "neutral" rating and increased their price target for the company from $6.75 to $8.00 in a report on Tuesday, August 19th. Jefferies Financial Group upgraded Aveanna Healthcare from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $6.25 to $6.00 in a research report on Monday, July 21st. Raymond James Financial raised Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 price objective for the company in a research note on Monday, August 11th. Finally, Truist Financial dropped their price objective on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.

Aveanna Healthcare Price Performance

NASDAQ AVAH traded up $0.08 on Thursday, hitting $7.93. 519,764 shares of the company's stock were exchanged, compared to its average volume of 569,569. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 98.90 and a beta of 1.95. The firm's 50-day moving average price is $5.14 and its two-hundred day moving average price is $5.01. Aveanna Healthcare Holdings Inc. has a fifty-two week low of $3.67 and a fifty-two week high of $8.01.

Insider Transactions at Aveanna Healthcare

In related news, major shareholder Robert M. Williams, Jr. sold 750,000 shares of Aveanna Healthcare stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total value of $3,900,000.00. Following the completion of the transaction, the insider directly owned 28,890,756 shares in the company, valued at approximately $150,231,931.20. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patrick A. Cunningham sold 18,500 shares of Aveanna Healthcare stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $4.93, for a total value of $91,205.00. Following the completion of the transaction, the insider owned 327,869 shares of the company's stock, valued at $1,616,394.17. This trade represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,295,145 shares of company stock worth $11,941,141 in the last quarter. Insiders own 7.80% 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.