Aveanna Healthcare (NASDAQ:AVAH) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) saw unusually-high trading volume on Tuesday . 1,930,093 shares traded hands during trading, an increase of 5% from the previous session’s volume of 1,845,977 shares.The stock last traded at $13.6950 and had previously closed at $13.58.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Stephens raised shares of Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $11.00 in a research report on Friday, May 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. Barclays lifted their price target on Aveanna Healthcare from $9.50 to $15.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Wall Street Zen lowered Aveanna Healthcare from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Finally, BMO Capital Markets upped their price objective on Aveanna Healthcare from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. One research 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’s stock. According to data from MarketBeat, Aveanna Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Aveanna Healthcare Trading Up 2.6%

The company has a debt-to-equity ratio of 4.47, a current ratio of 1.16 and a quick ratio of 1.16. The business’s 50-day moving average is $11.00 and its two-hundred day moving average is $8.44. The firm has a market cap of $3.06 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.86 and a beta of 1.97.

Aveanna Healthcare (NASDAQ:AVAH) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $670.48 million during the quarter, compared to the consensus estimate of $638.61 million. Aveanna Healthcare had a net margin of 10.56% and a return on equity of 80.70%. As a group, analysts predict that Aveanna Healthcare Holdings Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Aveanna Healthcare

In other Aveanna Healthcare news, major shareholder Robert M. Williams, Jr. sold 14,500,002 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total transaction of $166,750,023.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder J.H. Whitney Equity Partners V sold 12,496,077 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $11.50, for a total value of $143,704,885.50. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 59,904,505 shares of company stock valued at $649,301,514. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Aveanna Healthcare

Large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd acquired a new position in Aveanna Healthcare during the second quarter worth $197,000. Arizona State Retirement System lifted its stake in Aveanna Healthcare by 46.4% in the second quarter. Arizona State Retirement System now owns 21,006 shares of the company’s stock valued at $180,000 after acquiring an additional 6,661 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in Aveanna Healthcare in the second quarter valued at $4,595,000. Corient Private Wealth LP bought a new position in shares of Aveanna Healthcare in the 2nd quarter valued at about $176,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Aveanna Healthcare in the 2nd quarter valued at about $270,000. 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.