Mackenzie Financial Corp Buys 156,439 Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)

Key Points

• Mackenzie Financial Corp increased its stake in Aveanna Healthcare by 145.9%, now owning approximately 263,662 shares valued at $1.43 million.
• Insider Patrick A. Cunningham sold 18,500 shares of Aveanna when the stock was priced at $4.93, resulting in a 5.34% decrease in his ownership.
• Analysts have mixed ratings for Aveanna Healthcare, with a consensus rating of "Hold" and an average target price of $5.25.

Mackenzie Financial Corp increased its holdings in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) by 145.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 263,662 shares of the company's stock after acquiring an additional 156,439 shares during the quarter. Mackenzie Financial Corp owned approximately 0.14% of Aveanna Healthcare worth $1,429,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AVAH. KLP Kapitalforvaltning AS acquired a new position in shares of Aveanna Healthcare in the 4th quarter worth approximately $35,000. BNP Paribas Financial Markets bought a new position in shares of Aveanna Healthcare in the fourth quarter valued at $35,000. Tower Research Capital LLC TRC lifted its position in shares of 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 acquiring an additional 6,854 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of Aveanna Healthcare during the 4th quarter worth $57,000. Finally, Walleye Capital LLC acquired a new position in shares of Aveanna Healthcare in the 4th quarter worth $64,000. Institutional investors own 87.96% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on AVAH shares. Wall Street Zen downgraded shares of Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Jefferies Financial Group upgraded Aveanna Healthcare from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $6.25 to $6.00 in a research report on Monday, July 21st. Barclays began coverage on Aveanna Healthcare in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $5.50 target price on the stock. UBS Group boosted their price objective on shares of Aveanna Healthcare from $4.50 to $5.00 and gave the company a "sell" rating in a research report on Friday, May 9th. Finally, Truist Financial cut their target price on shares of Aveanna Healthcare from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.25.

Insider Activity at Aveanna Healthcare

In other Aveanna Healthcare news, CAO Deborah Stewart sold 15,457 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $5.56, for a total transaction of $85,940.92. Following the sale, the chief accounting officer owned 285,396 shares in the company, valued at $1,586,801.76. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Robert M. Williams, Jr. sold 1,560,700 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $5.36, for a total transaction of $8,365,352.00. Following the sale, the insider directly owned 29,640,756 shares in the company, valued at $158,874,452.16. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,115,345 shares of company stock worth $37,838,057 in the last three months. Corporate insiders own 7.00% of the company's stock.

Aveanna Healthcare Stock Up 2.9%

NASDAQ:AVAH traded up $0.11 during trading hours on Wednesday, hitting $3.89. 488,865 shares of the company traded hands, compared to its average volume of 376,848. Aveanna Healthcare Holdings Inc. has a one year low of $3.43 and a one year high of $6.19. The company has a market cap of $758.90 million, a PE ratio of 194.50 and a beta of 1.95. The firm's 50-day simple moving average is $4.61 and its 200-day simple moving average is $4.78.

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.