Aveanna Healthcare Holdings Inc. $AVAH Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops cut its Aveanna Healthcare stake by 27.6% in the second quarter, selling 241,281 shares and retaining 633,900 shares worth approximately $5.4 million. Institutional investors and hedge funds collectively own 87.96% of AVAH.
• Aveanna reported quarterly EPS of $0.22, beating estimates of $0.17, while revenue of $670.48 million exceeded expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $13.50.
• AVAH shares opened at $14.08, near their 12-month high of $14.54, but insiders sold nearly 59.9 million shares worth approximately $649.3 million over the past three months.

Squarepoint Ops LLC cut its stake in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 27.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 633,900 shares of the company's stock after selling 241,281 shares during the period. Squarepoint Ops LLC owned about 0.29% of Aveanna Healthcare worth $5,433,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AVAH. BlackRock Inc. acquired a new stake in shares of Aveanna Healthcare during the second quarter worth about $63,504,000. Vanguard Group Inc. boosted its position in shares of Aveanna Healthcare by 38.0% in the 4th quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company's stock valued at $45,564,000 after purchasing an additional 1,535,351 shares during the period. Braidwell LP boosted its position in shares of Aveanna Healthcare by 39.1% in the 2nd quarter. Braidwell LP now owns 3,065,106 shares of the company's stock valued at $26,268,000 after purchasing an additional 861,600 shares during the period. Geode Capital Management LLC grew its stake in Aveanna Healthcare by 17.7% during the 4th quarter. Geode Capital Management LLC now owns 1,849,057 shares of the company's stock worth $15,110,000 after buying an additional 278,429 shares during the last quarter. Finally, Nuveen LLC grew its stake in Aveanna Healthcare by 135.9% during the 4th quarter. Nuveen LLC now owns 1,571,308 shares of the company's stock worth $12,838,000 after buying an additional 905,316 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Aveanna Healthcare Stock Up 1.6%

Aveanna Healthcare stock opened at $14.08 on Friday. Aveanna Healthcare Holdings Inc. has a twelve month low of $5.93 and a twelve month high of $14.54. The stock has a 50 day moving average of $11.19 and a two-hundred day moving average of $8.53. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.47. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 0.87 and a beta of 1.97.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.22 earnings per share (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 business had revenue of $670.48 million for the quarter, compared to analyst estimates of $638.61 million. As a group, research analysts expect that Aveanna Healthcare Holdings Inc. will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AVAH shares. Barclays boosted their price objective on Aveanna Healthcare from $9.50 to $15.00 and gave the company an "overweight" rating in a research note on Friday, August 28th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. UBS Group upped their price target on shares of Aveanna Healthcare from $8.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, August 14th. Truist Financial increased their price target 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. Finally, Stephens raised shares of Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $10.00 to $11.00 in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $13.50.

Insider Activity at Aveanna Healthcare

In other news, major shareholder Robert M. Williams, Jr. sold 14,500,002 shares of the firm's 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of Aveanna Healthcare stock in a transaction dated Thursday, August 20th. The shares were 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. Insiders have sold a total of 59,904,505 shares of company stock worth $649,301,514 in the last three months. Insiders own 5.30% of the company's stock.

Aveanna Healthcare Company Profile

Aveanna Healthcare Corporation is a provider of home-based healthcare services for children, adults and families in the United States. The company's services are designed to help patients receive medical and supportive care in their homes and communities, including individuals with complex, chronic or medically fragile conditions.

Aveanna's principal services include private-duty nursing, home health, hospice and personal care. It also provides pediatric therapy and related clinical services, including physical, occupational and speech therapy.

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