Summit Partners L P Buys Shares of 9,651,423 Aveanna Healthcare Holdings Inc. $AVAH

Key Points

• Summit Partners L P acquired 9,651,423 shares of Aveanna Healthcare Holdings Inc., representing approximately $50.5 million and making it the fund's 4th largest holding.
• Aveanna Healthcare's stock recently experienced a 3.4% increase, and analysts have generally upgraded their ratings, with price targets ranging from $8.00 to $10.00.
• Institutional investors heavily dominate Aveanna Healthcare's ownership, holding 87.96% of the company's stock.

Summit Partners L P purchased a new position in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,651,423 shares of the company's stock, valued at approximately $50,477,000. Aveanna Healthcare makes up approximately 3.6% of Summit Partners L P's portfolio, making the stock its 4th largest holding. Summit Partners L P owned 4.95% of Aveanna Healthcare at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in shares of Aveanna Healthcare during the first quarter valued at about $25,000. BNP Paribas Financial Markets bought a new position in shares of Aveanna Healthcare during the 4th quarter worth approximately $35,000. Diversified Trust Co purchased a new stake in Aveanna Healthcare during the second quarter valued at approximately $57,000. Jump Financial LLC acquired a new stake in Aveanna Healthcare in the first quarter valued at approximately $59,000. Finally, ProShare Advisors LLC purchased a new position in Aveanna Healthcare in the fourth quarter worth $67,000. Institutional investors own 87.96% of the company's stock.

Aveanna Healthcare Stock Up 3.4%

Shares of NASDAQ AVAH opened at $8.75 on Friday. Aveanna Healthcare Holdings Inc. has a 52 week low of $3.67 and a 52 week high of $8.79. The business's 50 day moving average price is $6.79 and its 200 day moving average price is $5.61. The firm has a market cap of $1.83 billion, a P/E ratio of 109.38 and a beta of 2.04.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Aveanna Healthcare from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $6.00 to $10.00 in a research report on Thursday, September 18th. UBS Group raised Aveanna Healthcare from a "sell" rating to a "neutral" rating and raised their price target for the stock from $6.75 to $8.00 in a report on Tuesday, August 19th. Jefferies Financial Group upgraded shares of Aveanna Healthcare from a "hold" rating to a "buy" rating and cut their price objective for the company from $6.25 to $6.00 in a report on Monday, July 21st. Wall Street Zen raised shares of Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Barclays raised shares of Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $5.50 to $9.50 in a research report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Aveanna Healthcare currently has an average rating of "Moderate Buy" and an average price target of $7.92.

Aveanna Healthcare Profile

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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