NFJ Investment Group LLC Buys New Stake in Aveanna Healthcare Holdings Inc. $AVAH

Key Points

• NFJ Investment Group initiated a stake of 312,997 Aveanna Healthcare shares worth approximately $2.68 million, while institutional investors collectively own 87.96% of the company.
• Aveanna reported quarterly EPS of $0.22, beating estimates by $0.05, and revenue of $670.48 million versus the $638.61 million consensus forecast.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and an average price target of $11.78, although major shareholders recently sold substantial positions and insiders sold $214.6 million of stock over the past 90 days.

NFJ Investment Group LLC bought a new stake in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 312,997 shares of the company's stock, valued at approximately $2,682,000. NFJ Investment Group LLC owned 0.14% of Aveanna Healthcare as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of Aveanna Healthcare by 21.2% in the first quarter. AQR Capital Management LLC now owns 26,280 shares of the company's stock valued at $142,000 after buying an additional 4,602 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Aveanna Healthcare by 8.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company's stock worth $1,842,000 after acquiring an additional 25,974 shares in the last quarter. Jane Street Group LLC lifted its stake in Aveanna Healthcare by 522.0% during the 1st quarter. Jane Street Group LLC now owns 75,081 shares of the company's stock worth $407,000 after acquiring an additional 63,010 shares in the last quarter. Creative Planning boosted its holdings in Aveanna Healthcare by 15.1% during the 2nd quarter. Creative Planning now owns 47,025 shares of the company's stock valued at $246,000 after acquiring an additional 6,171 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Aveanna Healthcare by 65.0% during the second quarter. JPMorgan Chase & Co. now owns 158,265 shares of the company's stock worth $828,000 after purchasing an additional 62,348 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder J.H. Whitney Equity Partners V sold 5,842,240 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $6.24, for a total value of $36,455,577.60. Following the sale, the insider directly owned 13,450,547 shares in the company, valued at approximately $83,931,413.28. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Robert M. Williams, Jr. sold 7,000,000 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $6.24, for a total transaction of $43,680,000.00. Following the completion of the sale, the insider owned 252,899 shares in the company, valued at $1,578,089.76. The trade was a 96.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,180,664 shares of company stock worth $214,607,160 over the last 90 days. 5.30% of the stock is owned by insiders.

Aveanna Healthcare Price Performance

AVAH stock opened at $12.97 on Friday. The company has a debt-to-equity ratio of 4.47, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $2.83 billion, a P/E ratio of 10.54, a P/E/G ratio of 0.92 and a beta of 1.90. The business's 50-day moving average is $9.46 and its two-hundred day moving average is $7.88. Aveanna Healthcare Holdings Inc. has a 1 year low of $5.93 and a 1 year high of $13.40.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.22 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $638.61 million. Analysts anticipate that Aveanna Healthcare Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AVAH shares. Truist Financial increased their price target on shares of Aveanna Healthcare from $9.00 to $11.00 and gave the stock a "hold" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada raised shares of Aveanna Healthcare from a "sector perform" rating to an "outperform" rating and set a $10.00 target price on the stock in a research note on Wednesday, June 3rd. Raymond James Financial increased their target price on shares of Aveanna Healthcare from $13.00 to $15.00 and gave the stock a "strong-buy" rating in a report on Friday, August 14th. BMO Capital Markets raised their price target on shares of Aveanna Healthcare from $10.00 to $14.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Finally, Wall Street Zen cut shares of Aveanna Healthcare from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.78.

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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