Belvedere Trading LLC Takes $62,000 Position in Aveanna Healthcare Holdings Inc. $AVAH

Belvedere Trading LLC purchased a new stake in shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,936 shares of the company’s stock, valued at approximately $62,000.

Other institutional investors also recently modified their holdings of the company. Summit Partners L P bought a new position in shares of Aveanna Healthcare in the second quarter worth approximately $50,477,000. Strs Ohio bought a new position in shares of Aveanna Healthcare in the first quarter worth approximately $218,000. Teacher Retirement System of Texas increased its position in shares of Aveanna Healthcare by 50.9% in the first quarter. Teacher Retirement System of Texas now owns 49,881 shares of the company’s stock worth $270,000 after purchasing an additional 16,835 shares during the last quarter. Diversified Trust Co bought a new position in shares of Aveanna Healthcare in the second quarter worth approximately $57,000. Finally, MetLife Investment Management LLC increased its position in shares of Aveanna Healthcare by 16.2% in the first quarter. MetLife Investment Management LLC now owns 31,251 shares of the company’s stock worth $169,000 after purchasing an additional 4,349 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on AVAH shares. JPMorgan Chase & Co. upgraded shares of Aveanna Healthcare from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $6.00 to $10.00 in a research report on Thursday, September 18th. Zacks Research cut shares of Aveanna Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Aveanna Healthcare in a research note on Wednesday, October 8th. Truist Financial cut their target price on Aveanna Healthcare from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group raised Aveanna Healthcare from a “hold” rating to a “buy” rating and cut their target price for the stock from $6.25 to $6.00 in a research note on Monday, July 21st. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Aveanna Healthcare currently has a consensus rating of “Hold” and a consensus target price of $8.36.

Insider Activity

In other news, major shareholder J.H. Whitney Equity Partners V sold 8,346,059 shares of the stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $9.00, for a total transaction of $75,114,531.00. Following the completion of the sale, the insider owned 20,544,696 shares of the company’s stock, valued at approximately $184,902,264. This represents a 28.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Paul R. Vigano sold 10,000,000 shares of the 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 of the company’s stock, valued at approximately $3,476,556. This trade represents a 96.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,346,059 shares of company stock valued at $255,114,531. 7.00% of the stock is currently owned by company insiders.

Aveanna Healthcare Price Performance

Shares of AVAH opened at $9.63 on Tuesday. The firm has a market cap of $2.01 billion, a P/E ratio of 120.38 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. The stock has a 50 day simple moving average of $8.55 and a two-hundred day simple moving average of $6.20.

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 firm had revenue of $450.53 million during the quarter. Aveanna Healthcare had a negative return on equity of 54.56% and a net margin of 0.85%. On average, equities analysts anticipate that Aveanna Healthcare Holdings Inc. will post -0.06 earnings per share for the current year.

Aveanna Healthcare Company Profile

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.