Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Aveanna Healthcare Holdings Inc. by 71.1%, acquiring a total of 326,144 shares valued at approximately $1.77 million.
• Aveanna Healthcare currently has a market cap of $1.48 billion, with shares trading between a 1-year low of $3.67 and a 1-year high of $7.61.
• Several analysts have upgraded their ratings on Aveanna Healthcare, with target prices ranging from $5.00 to $9.00, indicating mixed sentiment in the market.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 71.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 326,144 shares of the company's stock after purchasing an additional 135,574 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of Aveanna Healthcare worth $1,768,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new stake in shares of Aveanna Healthcare during the 4th quarter worth approximately $35,000. Tower Research Capital LLC TRC raised its position in Aveanna Healthcare by 662.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company's stock valued at $36,000 after purchasing an additional 6,854 shares in the last quarter. Sagespring Wealth Partners LLC bought a new stake in Aveanna Healthcare during the 4th quarter valued at $57,000. Walleye Capital LLC bought a new stake in Aveanna Healthcare during the 4th quarter valued at $64,000. Finally, ProShare Advisors LLC bought a new stake in Aveanna Healthcare during the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Aveanna Healthcare Price Performance

Shares of NASDAQ AVAH opened at $7.08 on Friday. Aveanna Healthcare Holdings Inc. has a 1-year low of $3.67 and a 1-year high of $7.61. The stock's 50-day moving average is $4.77 and its two-hundred day moving average is $4.87. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 88.50 and a beta of 1.95.

Analyst Upgrades and Downgrades

AVAH has been the topic of several research analyst reports. UBS Group boosted their target price on Aveanna Healthcare from $5.00 to $6.75 and gave the stock a "sell" rating in a research note on Tuesday. Wall Street Zen raised Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Truist Financial decreased their price objective on Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. Raymond James Financial raised Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 price target for the company in a report on Monday, August 11th. Finally, Jefferies Financial Group upgraded Aveanna Healthcare from a "hold" rating to a "buy" rating and decreased their target price for the company from $6.25 to $6.00 in a research report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.45.

Insiders Place Their Bets

In related news, CAO Deborah Stewart sold 15,457 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $5.56, for a total value of $85,940.92. Following the completion of the transaction, the chief accounting officer directly owned 285,396 shares of the company's stock, valued at $1,586,801.76. This trade represents a 5.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Robert M. Williams, Jr. sold 750,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $5.20, for a total value of $3,900,000.00. Following the transaction, the insider directly owned 28,890,756 shares of the company's stock, valued at $150,231,931.20. The trade was a 2.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,977,245 shares of company stock worth $37,037,197. Corporate insiders own 7.80% of the company's stock.

About Aveanna Healthcare

Aveanna Healthcare Holdings Inc, a diversified home care platform company, provides pediatric and adult healthcare services in the United States. Its patient-centered care delivery platform allows patients to remain in their homes and minimizes the overutilization of high-cost care settings, such as hospitals or skilled nursing facilities.

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