Paul Vigano Sells 7,000,000 Shares of Aveanna Healthcare (NASDAQ:AVAH) Stock

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) major shareholder Paul Vigano sold 7,000,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $6.24, for a total transaction of $43,680,000.00. Following the transaction, the insider directly owned 252,899 shares in the company, valued at $1,578,089.76. The trade was a 96.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Aveanna Healthcare Stock Performance

Aveanna Healthcare stock traded up $0.15 during midday trading on Friday, hitting $6.78. 510,328 shares of the company’s stock were exchanged, compared to its average volume of 1,345,372. Aveanna Healthcare Holdings Inc. has a 12-month low of $3.73 and a 12-month high of $10.32. The company has a debt-to-equity ratio of 5.35, a quick ratio of 1.47 and a current ratio of 1.47. The stock 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 firm’s 50 day simple moving average is $6.79 and its 200 day simple moving average is $7.73.

Aveanna Healthcare (NASDAQ:AVAH) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.18 earnings per share (EPS) for the quarter, topping 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 $647.92 million for the quarter, compared to the consensus estimate of $613.22 million. Aveanna Healthcare’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that Aveanna Healthcare Holdings Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

AVAH has been the topic of several research reports. 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 on the stock in a research report on Wednesday. BMO Capital Markets lowered their price objective on shares of Aveanna Healthcare from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Barclays reduced their target price on shares of Aveanna Healthcare from $9.50 to $9.00 and set an “overweight” rating for the company 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 target price for the company in a research note on Friday, March 20th. 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 a consensus rating of “Moderate Buy” and an average price target of $10.50.

Institutional Trading of Aveanna Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in AVAH. AQR Capital Management LLC lifted its stake 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 period. Goldman Sachs Group Inc. lifted its stake in shares of Aveanna Healthcare by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company’s stock valued at $1,842,000 after purchasing an additional 25,974 shares during the period. Jane Street Group LLC lifted its stake in shares of Aveanna Healthcare by 522.0% in the first quarter. Jane Street Group LLC now owns 75,081 shares of the company’s stock valued at $407,000 after purchasing an additional 63,010 shares during the period. Creative Planning lifted its stake in shares of Aveanna Healthcare by 15.1% in the second quarter. Creative Planning now owns 47,025 shares of the company’s stock valued at $246,000 after purchasing an additional 6,171 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Aveanna Healthcare by 65.0% in the second quarter. JPMorgan Chase & Co. now owns 158,265 shares of the company’s stock valued at $828,000 after purchasing an additional 62,348 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

About Aveanna Healthcare

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.