Aveanna Healthcare (NASDAQ:AVAH) Major Shareholder Robert Williams, Jr. Sells 10,000,000 Shares

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) major shareholder Robert Williams, Jr. sold 10,000,000 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $9.00, for a total value of $90,000,000.00. Following the completion of the sale, the insider 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 legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Aveanna Healthcare Trading Down 3.8%

Aveanna Healthcare stock opened at $9.12 on Friday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 114.00 and a beta of 2.05. The business has a 50-day moving average of $8.45 and a 200-day moving average of $6.12. Aveanna Healthcare Holdings Inc. has a 1 year low of $3.67 and a 1 year high of $10.32.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVAH. Wall Street Zen upgraded shares of Aveanna Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. raised Aveanna Healthcare from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $6.00 to $10.00 in a research note on Thursday, September 18th. Barclays raised Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $5.50 to $9.50 in a research report on Tuesday, August 19th. Zacks Research lowered Aveanna Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, UBS Group increased their target price on Aveanna Healthcare from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AVAH. Rhumbline Advisers raised its position in Aveanna Healthcare by 4.0% in the 1st quarter. Rhumbline Advisers now owns 75,581 shares of the company’s stock valued at $410,000 after buying an additional 2,918 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Aveanna Healthcare by 16.2% during the 1st quarter. MetLife Investment Management LLC now owns 31,251 shares of the company’s stock worth $169,000 after acquiring an additional 4,349 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Aveanna Healthcare by 21.2% in the first quarter. AQR Capital Management LLC now owns 26,280 shares of the company’s stock valued at $142,000 after purchasing an additional 4,602 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Aveanna Healthcare by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 114,881 shares of the company’s stock worth $623,000 after purchasing an additional 4,655 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Aveanna Healthcare by 31.1% during the second quarter. Invesco Ltd. now owns 20,006 shares of the company’s stock worth $105,000 after purchasing an additional 4,742 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

About Aveanna Healthcare

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.