Insider Selling: Aveanna Healthcare (NASDAQ:AVAH) Major Shareholder Sells 10,000,000 Shares of Stock

Key Points

• Paul Vigano, a major shareholder of Aveanna Healthcare, sold 10,000,000 shares at an average price of $9.00, totaling $90 million, which reduced his ownership by 96.28%.
• Aveanna Healthcare's stock price decreased by 2.5% during recent trading, closing at $9.24, just above its 52-week low of $3.67.
• Analysts have mixed ratings on Aveanna Healthcare, with a consensus target price of $8.08 and multiple upgrades from firms like Barclays and JPMorgan Chase.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) major shareholder Paul Vigano sold 10,000,000 shares of Aveanna Healthcare stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $9.00, for a total transaction of $90,000,000.00. Following the sale, the insider directly owned 386,284 shares of the company's stock, valued at $3,476,556. This represents a 96.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Aveanna Healthcare Trading Down 2.5%

Shares of Aveanna Healthcare stock traded down $0.24 on Thursday, hitting $9.24. 1,093,237 shares of the company traded hands, compared to its average volume of 750,417. The company has a market cap of $1.93 billion, a PE ratio of 115.50 and a beta of 2.05. Aveanna Healthcare Holdings Inc. has a 52 week low of $3.67 and a 52 week high of $10.32. The stock's 50 day moving average price is $8.41 and its 200-day moving average price is $6.09.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last issued its quarterly earnings data on Monday, May 22nd. The company reported $0.04 EPS for the quarter. The company had revenue of $450.53 million during the quarter. Aveanna Healthcare had a net margin of 0.85% and a negative return on equity of 54.56%. As a group, research analysts anticipate that Aveanna Healthcare Holdings Inc. will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Aveanna Healthcare

Large investors have recently made changes to their positions in the business. Teacher Retirement System of Texas grew its holdings in shares of Aveanna Healthcare by 50.9% during the first quarter. Teacher Retirement System of Texas now owns 49,881 shares of the company's stock valued at $270,000 after buying an additional 16,835 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Aveanna Healthcare by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 114,881 shares of the company's stock valued at $623,000 after buying an additional 4,655 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of Aveanna Healthcare during the first quarter valued at $167,000. Mackenzie Financial Corp boosted its holdings in Aveanna Healthcare by 145.9% in the first quarter. Mackenzie Financial Corp now owns 263,662 shares of the company's stock valued at $1,429,000 after purchasing an additional 156,439 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Aveanna Healthcare by 159.9% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 65,414 shares of the company's stock valued at $355,000 after purchasing an additional 40,243 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVAH has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Aveanna Healthcare in a research note on Wednesday, October 8th. Barclays raised shares of Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $5.50 to $9.50 in a research note on Tuesday, August 19th. JPMorgan Chase & Co. raised shares of Aveanna Healthcare from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $6.00 to $10.00 in a research note on Thursday, September 18th. Raymond James Financial raised shares of Aveanna Healthcare from a "market perform" rating to an "outperform" rating and set a $9.00 price objective for the company in a research note on Monday, August 11th. Finally, Wall Street Zen raised Aveanna Healthcare from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $8.08.

Aveanna Healthcare Company 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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