Aveanna Healthcare (NASDAQ:AVAH) Trading Down 6% on Insider Selling

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price traded down 6% on Friday after an insider sold shares in the company. The stock traded as low as $5.09 and last traded at $5.14. 215,932 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 236,904 shares. The stock had previously closed at $5.46.

Specifically, major shareholder J.H. Whitney Equity Partners V sold 61,564 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $5.51, for a total value of $339,217.64. Following the completion of the sale, the insider now owns 1,453,948 shares of the company’s stock, valued at approximately $8,011,253.48. The trade was a 4.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Truist Financial reduced their target price on shares of Aveanna Healthcare from $6.00 to $5.25 and set a “hold” rating for the company in a research note on Monday, January 6th. UBS Group upped their price target on Aveanna Healthcare from $3.20 to $4.50 and gave the stock a “sell” rating in a research note on Friday, March 14th.

Aveanna Healthcare Stock Performance

The firm has a market capitalization of $999.86 million, a price-to-earnings ratio of -15.11 and a beta of 2.25. The business’s 50 day moving average is $4.63 and its 200-day moving average is $4.96.

Hedge Funds Weigh In On Aveanna Healthcare

Institutional investors have recently made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new stake in Aveanna Healthcare in the 4th quarter valued at approximately $35,000. BNP Paribas Financial Markets bought a new position in Aveanna Healthcare during the fourth quarter worth $35,000. Tower Research Capital LLC TRC increased its position in Aveanna Healthcare by 662.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company’s stock worth $36,000 after acquiring an additional 6,854 shares during the period. Catalyst Funds Management Pty Ltd raised its stake in Aveanna Healthcare by 321.4% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 11,800 shares of the company’s stock valued at $54,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Sagespring Wealth Partners LLC bought a new stake in shares of Aveanna Healthcare in the fourth quarter valued at about $57,000. 87.96% of the stock is currently owned by institutional investors.

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.