J.H. Whitney Equity Partners V Sells 2,419,035 Shares of Aveanna Healthcare (NASDAQ:AVAH) Stock

Key Points

• J.H. Whitney Equity Partners V sold 2,419,035 shares of Aveanna Healthcare at an average price of $8.01, cutting its stake by 19.3% in a transaction worth about $19.4 million.
• The insider has been trimming its position repeatedly, including sales of 919,389 shares on June 24 and 5,842,240 shares on June 3.
• Despite the insider selling, Aveanna recently posted stronger-than-expected results, with quarterly EPS of $0.18 and revenue of $647.9 million, while analysts currently rate the stock a Moderate Buy with a $10.50 average price target.

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) major shareholder J.H. Whitney Equity Partners V sold 2,419,035 shares of Aveanna Healthcare stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $8.01, for a total transaction of $19,376,470.35. Following the completion of the sale, the insider owned 10,112,123 shares of the company's stock, valued at $80,998,105.23. This trade represents a 19.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

J.H. Whitney Equity Partners V also recently made the following trade(s):

• On Wednesday, June 24th, J.H. Whitney Equity Partners V sold 919,389 shares of Aveanna Healthcare stock. The stock was sold at an average price of $8.00, for a total transaction of $7,355,112.00.
• On Wednesday, June 3rd, J.H. Whitney Equity Partners V sold 5,842,240 shares of Aveanna Healthcare stock. The stock was sold at an average price of $6.24, for a total value of $36,455,577.60.

Aveanna Healthcare Price Performance

Shares of NASDAQ:AVAH traded up $0.33 during trading on Thursday, reaching $9.19. 1,002,532 shares of the company traded hands, compared to its average volume of 1,480,237. The firm has a market capitalization of $2.00 billion, a PE ratio of 7.78, a PEG ratio of 0.88 and a beta of 1.89. Aveanna Healthcare Holdings Inc. has a 52 week low of $3.73 and a 52 week high of $10.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.35. The company's 50 day moving average is $7.25 and its two-hundred day moving average is $7.56.

Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.13 by $0.05. Aveanna Healthcare had a net margin of 10.37% and a return on equity of 124.68%. The company had revenue of $647.91 million during the quarter, compared to analysts' expectations of $613.22 million. The firm's revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that Aveanna Healthcare Holdings Inc. will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AVAH. Barclays reduced their price target on shares of 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 upgraded shares of Aveanna Healthcare from an "outperform" rating to a "strong-buy" rating and set a $13.00 price objective for the company in a research report on Friday, March 20th. Stephens raised shares of Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $10.00 to $11.00 in a research note on Friday, May 15th. Royal Bank Of Canada upgraded 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 report on Wednesday, June 3rd. Finally, Weiss Ratings cut shares of Aveanna Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Aveanna Healthcare presently has an average rating of "Moderate Buy" and an average price target of $10.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its position in Aveanna Healthcare by 252.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock worth $27,000 after buying an additional 2,400 shares during the period. Quantbot Technologies LP acquired a new position in Aveanna Healthcare in the 2nd quarter valued at approximately $43,000. Summit Securities Group LLC bought a new position in shares of Aveanna Healthcare during the first quarter valued at $53,000. Oxford Asset Management LLP bought a new position in shares of Aveanna Healthcare during the second quarter valued at $64,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Aveanna Healthcare during the second quarter worth $85,000. Institutional investors own 87.96% of the company's stock.

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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