Assenagon Asset Management S.A. Has $6.13 Million Stock Position in Aveanna Healthcare Holdings Inc. $AVAH

Key Points

• Assenagon Asset Management boosted its Aveanna Healthcare stake by 16.4% in the first quarter, holding 951,594 shares worth about $6.13 million at the time of filing.
• Analysts have been mixed but generally positive on AVAH, with recent upgrades from Stephens, RBC, and Raymond James; the stock’s consensus rating is Moderate Buy with an average target price of $10.50.
• Aveanna reported stronger-than-expected quarterly results, posting $0.18 EPS and $647.9 million in revenue, while insiders sold heavily in recent months, including a large J.H. Whitney Equity Partners sale.

Assenagon Asset Management S.A. increased its stake in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 16.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 951,594 shares of the company's stock after purchasing an additional 134,043 shares during the period. Assenagon Asset Management S.A. owned approximately 0.44% of Aveanna Healthcare worth $6,128,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVAH. Caitong International Asset Management Co. Ltd grew its stake in Aveanna Healthcare by 252.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock worth $27,000 after buying an additional 2,400 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Aveanna Healthcare in the 2nd quarter valued at approximately $43,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Aveanna Healthcare by 88,100.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 11,466 shares of the company's stock worth $102,000 after acquiring an additional 11,453 shares during the period. Entropy Technologies LP bought a new stake in shares of Aveanna Healthcare during the 3rd quarter worth approximately $107,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Aveanna Healthcare during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 87.96% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on AVAH shares. Truist Financial lifted their price objective on shares of Aveanna Healthcare from $8.00 to $9.00 and gave the company a "hold" rating in a research note on Wednesday, May 20th. Weiss Ratings cut Aveanna Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 6th. Stephens raised Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $10.00 to $11.00 in a report on Friday, May 15th. Royal Bank Of Canada upgraded Aveanna Healthcare from a "sector perform" rating to an "outperform" rating and set a $10.00 price target on the stock in a research note on Wednesday, June 3rd. Finally, Raymond James Financial raised Aveanna Healthcare from an "outperform" rating to a "strong-buy" rating and set a $13.00 price target for the company in a report on Friday, March 20th. 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's stock. According to MarketBeat, Aveanna Healthcare has a consensus rating of "Moderate Buy" and an average target price of $10.50.

Insider Transactions at Aveanna Healthcare

In related news, major shareholder J.H. Whitney Equity Partners V sold 919,389 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $8.00, for a total transaction of $7,355,112.00. Following the sale, the insider owned 12,531,158 shares in the company, valued at $100,249,264. The trade was a 6.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Patrick A. Cunningham sold 125,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $7.59, for a total value of $948,750.00. Following the completion of the transaction, the insider owned 212,755 shares of the company's stock, valued at $1,614,810.45. This represents a 37.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,886,629 shares of company stock worth $148,119,440. Insiders own 5.30% of the company's stock.

Aveanna Healthcare Trading Down 0.3%

Shares of Aveanna Healthcare stock opened at $8.64 on Monday. The firm's 50 day moving average is $7.14 and its 200 day moving average is $7.57. The firm has a market capitalization of $1.88 billion, a PE ratio of 7.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.93. Aveanna Healthcare Holdings Inc. has a 1 year low of $3.73 and a 1 year high of $10.32. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 5.35.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. The business had revenue of $647.91 million during the quarter, compared to the consensus estimate of $613.22 million. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The company's revenue was up 15.9% on a year-over-year basis. Equities research analysts forecast that Aveanna Healthcare Holdings Inc. will post 0.65 earnings per share for the current fiscal year.

About Aveanna Healthcare

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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