Aveanna Healthcare Holdings Inc. $AVAH Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing reduced its Aveanna Healthcare stake by 37.9% in the third quarter, selling 108,429 shares and retaining 177,987 shares valued at approximately $2.2 million. Institutional investors and hedge funds collectively own 87.96% of the company.
• Analysts remain generally positive, with Aveanna receiving a consensus “Moderate Buy” rating and an average price target of $14.06. Several firms raised their targets to between $13 and $15.
• Aveanna reported quarterly EPS of $0.22, exceeding estimates of $0.17, while revenue reached $670.48 million versus expectations of $638.61 million. The stock opened at $13.38, compared with a 52-week range of $5.93 to $14.71.

Inspire Investing LLC cut its holdings in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 37.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,987 shares of the company's stock after selling 108,429 shares during the quarter. Inspire Investing LLC owned 0.08% of Aveanna Healthcare worth $2,209,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Littlejohn & Co. LLC purchased a new position in shares of Aveanna Healthcare during the 2nd quarter valued at approximately $1,846,878. The Manufacturers Life Insurance Company acquired a new stake in Aveanna Healthcare in the 2nd quarter valued at $367,000. Man Group plc purchased a new stake in Aveanna Healthcare in the 2nd quarter worth $1,043,000. Parkman Healthcare Partners LLC purchased a new stake in Aveanna Healthcare in the 2nd quarter worth $6,123,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Aveanna Healthcare in the 2nd quarter worth $752,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AVAH shares. UBS Group upped their price objective 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. 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. Truist Financial boosted their target price on shares of Aveanna Healthcare from $11.00 to $15.00 and gave the stock a "hold" rating in a research note on Monday, August 24th. JPMorgan Chase & Co. boosted their target price on shares of Aveanna Healthcare from $8.00 to $15.00 and gave the stock a "neutral" rating in a research note on Monday, September 14th. Finally, Weiss Ratings upgraded shares of Aveanna Healthcare from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.06.

Insider Buying and Selling

In other news, Director Rodney D. Windley sold 180,000 shares of the company's stock in a transaction on Thursday, August 20th. The shares were 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 owned 2,078,017 shares of the company's stock, valued at $23,897,195.50. This represents a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeff Shaner sold 90,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $11.50, for a total transaction of $1,035,000.00. Following the completion of the sale, the chief executive officer owned 2,561,972 shares of the company's stock, valued at $29,462,678. This trade represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,566,081 shares of company stock worth $558,509,932 in the last ninety days. Company insiders own 5.30% of the company's stock.

Aveanna Healthcare Stock Performance

NASDAQ AVAH opened at $13.38 on Monday. The company has a debt-to-equity ratio of 4.47, a current ratio of 1.16 and a quick ratio of 1.16. The stock's 50 day simple moving average is $13.10 and its 200-day simple moving average is $9.80. The company has a market cap of $2.92 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 0.82 and a beta of 1.95. Aveanna Healthcare Holdings Inc. has a 1-year low of $5.93 and a 1-year high of $14.71.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $638.61 million. As a group, equities research analysts anticipate that Aveanna Healthcare Holdings Inc. will post 0.77 EPS for the current fiscal year.

Aveanna Healthcare Company Profile

Aveanna Healthcare Holdings Inc NASDAQ: AVAH is a provider of home-based healthcare services in the United States. The company serves patients across the lifespan, with a particular focus on children and adults who require ongoing medical support, skilled nursing or assistance with daily activities.

Aveanna's services include private-duty nursing, home health care, hospice and palliative care, therapy, medical solutions and personal-care services. Its clinicians and caregivers support patients with complex medical conditions, disabilities and other needs in their homes and community settings, working with patients, families, physicians and healthcare organizations.

The company was established in 2016 through the combination of Pediatric Services of America and Epic Health Services and became a publicly traded company in 2021.

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