Insider Selling: Aveanna Healthcare (NASDAQ:AVAH) Major Shareholder Sells 7,000,000 Shares of Stock

Key Points

• Major shareholder Robert Williams, Jr. sold 7 million shares of Aveanna Healthcare at an average price of $6.24, for total proceeds of about $43.7 million. After the sale, his stake fell by 96.51%.
• Aveanna Healthcare’s stock recently traded at $6.78, near its 50-day average of $6.79 and below its 200-day average of $7.73. The company has a market cap of about $1.48 billion.
• The company reported better-than-expected quarterly results, with EPS of $0.18 versus estimates of $0.13 and revenue of $647.92 million, up 15.9% year over year. Analysts currently hold a Moderate Buy consensus with an average price target of $10.50.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) major shareholder Robert Williams, Jr. sold 7,000,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $6.24, for a total value of $43,680,000.00. Following the completion of the sale, the insider owned 252,899 shares of the company's stock, valued at $1,578,089.76. This trade represents a 96.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Aveanna Healthcare Price Performance

Shares of AVAH traded up $0.15 during trading hours on Friday, hitting $6.78. 510,328 shares of the stock were exchanged, compared to its average volume of 1,345,372. The company has a debt-to-equity ratio of 5.35, a quick ratio of 1.47 and a current ratio of 1.47. Aveanna Healthcare Holdings Inc. has a 12-month low of $3.73 and a 12-month high of $10.32. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 5.74, a price-to-earnings-growth ratio of 0.76 and a beta of 1.93. The stock's 50-day moving average price is $6.79 and its two-hundred day moving average price is $7.73.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $647.92 million during the quarter, compared to analysts' expectations of $613.22 million. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.The firm's revenue was up 15.9% compared to the same quarter last year. Research analysts expect that Aveanna Healthcare Holdings Inc. will post 0.6 earnings per share for the current year.

Institutional Investors Weigh In On Aveanna Healthcare

Several large investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC increased its holdings in Aveanna Healthcare by 425.8% during the 1st quarter. Segall Bryant & Hamill LLC now owns 163,966 shares of the company's stock worth $1,056,000 after purchasing an additional 132,779 shares during the period. Bank of America Corp DE increased its holdings in shares of Aveanna Healthcare by 64.2% in the 1st quarter. Bank of America Corp DE now owns 402,510 shares of the company's stock valued at $2,592,000 after acquiring an additional 157,368 shares during the last quarter. Smith Group Asset Management LLC increased its holdings in shares of Aveanna Healthcare by 34.3% in the 1st quarter. Smith Group Asset Management LLC now owns 263,669 shares of the company's stock valued at $1,698,000 after acquiring an additional 67,393 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Aveanna Healthcare by 22.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 17,552 shares of the company's stock valued at $113,000 after acquiring an additional 3,172 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Aveanna Healthcare by 56.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 36,509 shares of the company's stock valued at $235,000 after acquiring an additional 13,155 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays lowered their price objective on Aveanna Healthcare from $9.50 to $9.00 and set an "overweight" rating on the stock in a research note on Monday, May 18th. Raymond James Financial raised Aveanna Healthcare from an "outperform" rating to a "strong-buy" rating and set a $13.00 price target on the stock in a research note on Friday, March 20th. Royal Bank Of Canada raised Aveanna Healthcare from a "sector perform" rating to an "outperform" rating and set a $10.00 price target on the stock in a research note on Wednesday. Stephens raised Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $10.00 to $11.00 in a research note on Friday, May 15th. Finally, Truist Financial upped their price target on Aveanna Healthcare from $8.00 to $9.00 and gave the company a "hold" rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Aveanna Healthcare has a consensus rating of "Moderate Buy" and an average price target of $10.50.

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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