Paul Vigano Sells 10,000,000 Shares of Aveanna Healthcare (NASDAQ:AVAH) Stock

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) 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 value of $90,000,000.00. Following the sale, the insider directly owned 386,284 shares in the company, valued at $3,476,556. The trade was a 96.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Aveanna Healthcare Trading Up 3.4%

NASDAQ AVAH opened at $9.43 on Friday. The stock’s 50 day moving average is $8.49 and its two-hundred day moving average is $6.15. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 117.88 and a beta of 2.05. 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 company had revenue of $450.53 million for the quarter. Aveanna Healthcare had a negative return on equity of 54.56% and a net margin of 0.85%. On average, analysts predict that Aveanna Healthcare Holdings Inc. will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVAH shares. Jefferies Financial Group raised Aveanna Healthcare from a “hold” rating to a “buy” rating and decreased their price objective for the company from $6.25 to $6.00 in a report on Monday, July 21st. UBS Group boosted their target price on Aveanna Healthcare from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Truist Financial reduced their target price on Aveanna Healthcare from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Wednesday, July 16th. Barclays raised Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $5.50 to $9.50 in a report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. raised Aveanna Healthcare from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $6.00 to $10.00 in a report on Thursday, September 18th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.36.

Institutional Trading of Aveanna Healthcare

Several institutional investors and hedge funds have recently made changes to their positions in the business. Summit Partners L P bought a new stake in shares of Aveanna Healthcare during the 2nd quarter valued at $50,477,000. Assenagon Asset Management S.A. bought a new stake in shares of Aveanna Healthcare during the 3rd quarter valued at $7,356,000. First Eagle Investment Management LLC raised its position in shares of Aveanna Healthcare by 12.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 810,667 shares of the company’s stock valued at $4,240,000 after acquiring an additional 87,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Aveanna Healthcare by 103.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 664,890 shares of the company’s stock valued at $3,477,000 after acquiring an additional 338,746 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Aveanna Healthcare by 207.0% during the 2nd quarter. Squarepoint Ops LLC now owns 479,977 shares of the company’s stock valued at $2,510,000 after acquiring an additional 323,656 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

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.