Key Points
- J.H. Whitney Equity Partners V, Aveanna Healthcare’s major shareholder, sold 2.42 million shares on June 30 for about $19.4 million, cutting its stake by 19.3%.
- The insider has also been actively selling recently, including trades on June 24 and June 3 that totaled more than $43.8 million combined.
- Despite the selling, Aveanna shares were up 2.7% and the company recently posted strong quarterly results, with EPS of $0.18 beating estimates and revenue rising 15.9% year over year.
Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH - Get Free Report) major shareholder J.H. Whitney Equity Partners V sold 2,419,035 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $8.01, for a total value of $19,376,470.35. Following the sale, the insider owned 10,112,123 shares in the company, valued at approximately $80,998,105.23. The trade was a 19.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares 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 shares were 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 shares were sold at an average price of $6.24, for a total transaction of $36,455,577.60.
Aveanna Healthcare Trading Up 2.7%
NASDAQ AVAH opened at $9.10 on Friday. The company's fifty day simple moving average is $7.31 and its 200-day simple moving average is $7.56. Aveanna Healthcare Holdings Inc. has a 52 week low of $3.73 and a 52 week high of $10.32. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 5.35. The stock has a market cap of $1.98 billion, a P/E ratio of 7.71, a PEG ratio of 0.91 and a beta of 1.89.
Aveanna Healthcare (NASDAQ:AVAH - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported $0.18 earnings per share 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 business had revenue of $647.91 million during the quarter, compared to the consensus estimate of $613.22 million. Aveanna Healthcare's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts predict that Aveanna Healthcare Holdings Inc. will post 0.65 EPS for the current fiscal year.
Institutional Trading of Aveanna Healthcare
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Aveanna Healthcare by 252.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company's stock worth $27,000 after purchasing an additional 2,400 shares during the last quarter. Quantbot Technologies LP bought a new position in Aveanna Healthcare during the 2nd quarter worth $43,000. Summit Securities Group LLC acquired a new stake in Aveanna Healthcare in the first quarter worth $53,000. Oxford Asset Management LLP acquired a new stake in Aveanna Healthcare in the second quarter worth $64,000. Finally, Bayesian Capital Management LP bought a new stake in Aveanna Healthcare in the second quarter valued at $85,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AVAH has been the topic of a number of analyst reports. Barclays dropped their target price on Aveanna Healthcare from $9.50 to $9.00 and set an "overweight" rating on the stock in a research report on Monday, May 18th. Weiss Ratings downgraded Aveanna Healthcare from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, April 6th. 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 report on Friday, March 20th. Stephens upgraded Aveanna Healthcare from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $10.00 to $11.00 in a research note on Friday, May 15th. Finally, Royal Bank Of Canada raised shares of Aveanna Healthcare from a "sector perform" rating to an "outperform" rating and set a $10.00 price objective for the company in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $10.50.
Check Out Our Latest Stock Report on AVAH
About Aveanna Healthcare
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
