Janus Henderson Group PLC Lowers Stock Position in Aveanna Healthcare Holdings Inc. $AVAH

Key Points

• Janus Henderson Group cut its Aveanna Healthcare stake by 91.6% in the first quarter, selling 257,448 shares and retaining 23,600 shares valued at $152,000. Institutional investors collectively own 87.96% of AVAH.
• Aveanna reported quarterly adjusted earnings of $0.18 per share, beating estimates by $0.05, while revenue rose 15.9% year over year to $647.91 million. Analysts expect $0.68 in full-year earnings per share.
• Insiders sold significant amounts of stock, including 3 million shares each by major shareholders Robert M. Williams Jr. and Paul R. Vigano; insiders have sold 31.3 million shares worth about $215.6 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus with a $10.78 average price target.

Janus Henderson Group PLC cut its stake in shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 91.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,600 shares of the company's stock after selling 257,448 shares during the quarter. Janus Henderson Group PLC's holdings in Aveanna Healthcare were worth $152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Aveanna Healthcare Stock Down 5.4%

Shares of NASDAQ AVAH opened at $8.95 on Wednesday. The firm's fifty day moving average is $8.72 and its 200 day moving average is $7.71. Aveanna Healthcare Holdings Inc. has a 52 week low of $5.93 and a 52 week high of $10.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 0.94 and a beta of 1.90.

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 for the quarter, beating the consensus estimate of $0.13 by $0.05. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The business had revenue of $647.91 million during the quarter, compared to analysts' expectations of $613.22 million. The company's revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts expect that Aveanna Healthcare Holdings Inc. will post 0.68 earnings per share for the current year.

Insider Activity

In related news, major shareholder Robert M. Williams, Jr. sold 3,000,000 shares of the business's 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 transaction, the insider owned 190,130 shares in the company, valued at $1,522,941.30. The trade was a 94.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Paul R. Vigano sold 3,000,000 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $8.01, for a total value of $24,030,000.00. Following the transaction, the insider directly owned 190,130 shares of the company's stock, valued at $1,522,941.30. The trade was a 94.04% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 31,305,664 shares of company stock valued at $215,555,910. Company insiders own 5.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVAH. Stephens raised Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $10.00 to $11.00 in a research note on Friday, May 15th. Truist Financial increased their price objective on Aveanna Healthcare from $9.00 to $11.00 and gave the company a "hold" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada raised Aveanna Healthcare from a "sector perform" rating to an "outperform" rating and set a $10.00 price objective on the stock in a report on Wednesday, June 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of Aveanna Healthcare in a research report on Thursday, July 2nd. Finally, Barclays upped their target price on Aveanna Healthcare from $9.00 to $9.50 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. One equities 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $10.78.

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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