Aveanna Healthcare Holdings Inc. $AVAH Shares Bought by Braidwell LP

Key Points

• Braidwell LP increased its Aveanna Healthcare stake by 39.1% in the second quarter, adding 861,600 shares to own 3.07 million shares, or 1.4% of the company. Institutional investors collectively hold 87.96% of AVAH.
• Insiders sold nearly 59.9 million shares worth approximately $649.3 million over the past quarter, including major shareholder sales at an average price of $11.50 per share.
• Aveanna exceeded quarterly expectations, reporting $0.22 in earnings per share versus the $0.17 consensus and $670.48 million in revenue versus $638.61 million expected. Analysts have a “Moderate Buy” consensus rating and an average price target of $13.50.

Braidwell LP lifted its holdings in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 39.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,065,106 shares of the company's stock after purchasing an additional 861,600 shares during the quarter. Braidwell LP owned 1.40% of Aveanna Healthcare worth $26,268,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of AVAH. AQR Capital Management LLC grew its position in Aveanna Healthcare by 21.2% in the 1st quarter. AQR Capital Management LLC now owns 26,280 shares of the company's stock valued at $142,000 after buying an additional 4,602 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Aveanna Healthcare by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company's stock valued at $1,842,000 after acquiring an additional 25,974 shares in the last quarter. Jane Street Group LLC raised its holdings in Aveanna Healthcare by 522.0% during the first quarter. Jane Street Group LLC now owns 75,081 shares of the company's stock worth $407,000 after purchasing an additional 63,010 shares in the last quarter. Creative Planning lifted its position in Aveanna Healthcare by 15.1% in the second quarter. Creative Planning now owns 47,025 shares of the company's stock worth $246,000 after purchasing an additional 6,171 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Aveanna Healthcare by 65.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 158,265 shares of the company's stock valued at $828,000 after purchasing an additional 62,348 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Insider Activity at Aveanna Healthcare

In related news, major shareholder Paul R. Vigano sold 14,500,002 shares of Aveanna Healthcare stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $11.50, for a total value of $166,750,023.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total transaction of $143,704,885.50. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 59,904,505 shares of company stock valued at $649,301,514. 5.30% of the stock is currently owned by corporate insiders.

Aveanna Healthcare Trading Down 1.9%

NASDAQ AVAH opened at $13.20 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.47. Aveanna Healthcare Holdings Inc. has a 1-year low of $5.93 and a 1-year high of $14.00. The firm's fifty day simple moving average is $10.49 and its 200-day simple moving average is $8.23. The company has a market capitalization of $2.88 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 0.85 and a beta of 1.97.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AVAH shares. Truist Financial raised their target price on Aveanna Healthcare from $11.00 to $15.00 and gave the company a "hold" rating in a research note on Monday, August 24th. Barclays lifted their price objective on shares of Aveanna Healthcare from $9.50 to $15.00 and gave the stock an "overweight" rating in a research note on Friday, August 28th. Weiss Ratings restated a "hold (c+)" rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. UBS Group lifted their price target on shares of Aveanna Healthcare from $8.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. Finally, BMO Capital Markets raised their price objective on Aveanna Healthcare from $10.00 to $14.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.50.

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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