Aveanna Healthcare Holdings Inc. $AVAH Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Aveanna Healthcare stake by 38.6%, selling 509,355 shares and retaining 811,255 shares worth approximately $5.2 million. Institutional investors and hedge funds collectively own 87.96% of the company.
• Analyst sentiment remains favorable, with the stock holding a “Moderate Buy” consensus rating and an average price target of $10.78; several firms recently raised their targets or upgraded their ratings.
• Aveanna reported quarterly EPS of $0.18 versus the $0.13 estimate and revenue of $647.91 million, up 15.9% year over year. However, insiders sold more than 31.3 million shares worth about $215.6 million over the past three months.

Arrowstreet Capital Limited Partnership lessened its stake in shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 38.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 811,255 shares of the company's stock after selling 509,355 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.37% of Aveanna Healthcare worth $5,224,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in Aveanna Healthcare by 252.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock worth $27,000 after acquiring an additional 2,400 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Aveanna Healthcare during the 1st quarter valued at about $53,000. Quantbot Technologies LP acquired a new position in shares of Aveanna Healthcare in the second quarter valued at about $43,000. Entropy Technologies LP purchased a new position in shares of Aveanna Healthcare in the third quarter worth about $107,000. Finally, Oxford Asset Management LLP purchased a new position in shares of Aveanna Healthcare in the second quarter worth about $64,000. Institutional investors and hedge funds own 87.96% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays upped their target price on Aveanna Healthcare from $9.00 to $9.50 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Royal Bank Of Canada upgraded shares of Aveanna Healthcare from a "sector perform" rating to an "outperform" rating and set a $10.00 price objective for the company in a research note on Wednesday, June 3rd. Stephens raised shares of Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $10.00 to $11.00 in a report on Friday, May 15th. Truist Financial increased their price objective on shares of Aveanna Healthcare from $9.00 to $11.00 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.78.

Insider Activity

In other Aveanna Healthcare news, insider Patrick A. Cunningham sold 125,000 shares of the company's 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 in the company, valued at approximately $1,614,810.45. This represents a 37.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Robert M. Williams, Jr. sold 3,000,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $8.01, for a total transaction of $24,030,000.00. Following the sale, the insider directly owned 190,130 shares in the company, valued at approximately $1,522,941.30. The trade was a 94.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 31,305,664 shares of company stock valued at $215,555,910. 5.30% of the stock is currently owned by corporate insiders.

Aveanna Healthcare Price Performance

Shares of AVAH stock opened at $9.39 on Monday. The stock has a 50 day moving average of $8.41 and a 200 day moving average of $7.70. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 5.35. The stock has a market cap of $2.04 billion, a P/E ratio of 7.96, a P/E/G ratio of 0.93 and a beta of 1.90. Aveanna Healthcare Holdings Inc. has a twelve month low of $3.73 and a twelve month high of $10.32.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The company had revenue of $647.91 million during the quarter, compared to the consensus estimate of $613.22 million. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.The firm's revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts expect that Aveanna Healthcare Holdings Inc. will post 0.68 EPS for the current year.

Aveanna Healthcare Company 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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