Man Group plc Takes Position in Aveanna Healthcare Holdings Inc. $AVAH

Key Points

• Man Group plc bought 121,652 Aveanna Healthcare shares in the second quarter, valued at approximately $1.04 million, giving it a 0.06% stake. Institutional investors collectively own 87.96% of AVAH.
• Company insiders sold approximately 59.9 million shares worth $649.3 million during the latest quarter, including large sales by J.H. Whitney Equity Partners V and Paul R. Vigano.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $13.50. Aveanna recently beat quarterly estimates, reporting $0.22 EPS versus $0.17 expected and revenue of $670.48 million.

Man Group plc purchased a new position in shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 121,652 shares of the company's stock, valued at approximately $1,043,000. Man Group plc owned about 0.06% of Aveanna Healthcare at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVAH. BlackRock Inc. acquired a new position in Aveanna Healthcare in the 2nd quarter valued at $63,504,000. Vanguard Group Inc. lifted its holdings in shares of Aveanna Healthcare by 38.0% during the fourth quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company's stock worth $45,564,000 after buying an additional 1,535,351 shares in the last quarter. Millennium Management LLC boosted its position in shares of Aveanna Healthcare by 1,007.1% in the fourth quarter. Millennium Management LLC now owns 1,114,717 shares of the company's stock valued at $9,107,000 after acquiring an additional 1,014,030 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Aveanna Healthcare in the second quarter valued at about $7,881,000. Finally, Nuveen LLC grew its stake in shares of Aveanna Healthcare by 135.9% in the fourth quarter. Nuveen LLC now owns 1,571,308 shares of the company's stock valued at $12,838,000 after acquiring an additional 905,316 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Aveanna Healthcare news, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total value of $143,704,885.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Paul R. Vigano sold 14,500,002 shares of the business's stock in a transaction that occurred 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 59,904,505 shares of company stock worth $649,301,514. Corporate insiders own 5.30% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on AVAH shares. Barclays lifted their price objective on shares of Aveanna Healthcare from $9.50 to $15.00 and gave the stock an "overweight" rating in a research note on Friday, August 28th. Royal Bank Of Canada raised their target price on shares of Aveanna Healthcare from $10.00 to $16.00 and gave the stock an "outperform" rating in a report on Monday, August 24th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Aveanna Healthcare in a research report on Thursday, July 2nd. Stephens upgraded Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $10.00 to $11.00 in a research note on Friday, May 15th. Finally, Truist Financial raised their price objective on Aveanna Healthcare from $11.00 to $15.00 and gave the stock a "hold" rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Aveanna Healthcare has a consensus rating of "Moderate Buy" and an average target price of $13.50.

Aveanna Healthcare Stock Down 1.9%

Shares of NASDAQ:AVAH opened at $13.20 on Thursday. Aveanna Healthcare Holdings Inc. has a 12-month low of $5.93 and a 12-month high of $14.00. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.47. The firm has a market cap of $2.88 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.85 and a beta of 1.97. The business has a fifty day simple moving average of $10.49 and a 200 day simple moving average of $8.23.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. The company had revenue of $670.48 million for the quarter, compared to analysts' expectations of $638.61 million. Analysts predict that Aveanna Healthcare Holdings Inc. will post 0.75 earnings per share for the current year.

Aveanna Healthcare 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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