Aveanna Healthcare (NASDAQ:AVAH) Stock Price Down 4.8% – Here’s Why

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shares were down 4.8% on Wednesday . The company traded as low as $7.25 and last traded at $7.2750. Approximately 646,663 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 1,133,989 shares. The stock had previously closed at $7.64.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. BMO Capital Markets started coverage on shares of Aveanna Healthcare in a research report on Thursday, November 13th. They set an “outperform” rating and a $11.00 price objective on the stock. Zacks Research cut shares of Aveanna Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. William Blair began coverage on Aveanna Healthcare in a report on Monday, December 8th. They set an “outperform” rating for the company. Royal Bank Of Canada boosted their target price on Aveanna Healthcare from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Thursday, January 15th. Finally, Jefferies Financial Group upped their target price on Aveanna Healthcare from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Aveanna Healthcare presently has an average rating of “Hold” and an average price target of $11.06.

Aveanna Healthcare Price Performance

The company’s 50-day simple moving average is $8.55 and its 200 day simple moving average is $8.45. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 140.39. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 20.53 and a beta of 2.06.

Insider Buying and Selling

In other news, CFO Matthew Buckhalter sold 18,340 shares of Aveanna Healthcare stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $7.85, for a total value of $143,969.00. Following the transaction, the chief financial officer owned 436,980 shares of the company’s stock, valued at $3,430,293. This trade represents a 4.03% 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, insider Edwin C. Reisz sold 17,613 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $7.85, for a total transaction of $138,262.05. Following the sale, the insider directly owned 1,321,114 shares of the company’s stock, valued at approximately $10,370,744.90. This represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 259,638 shares of company stock valued at $2,109,595 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Aveanna Healthcare by 21.2% during the first quarter. AQR Capital Management LLC now owns 26,280 shares of the company’s stock valued at $142,000 after acquiring an additional 4,602 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Aveanna Healthcare by 8.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 339,853 shares of the company’s stock worth $1,842,000 after purchasing an additional 25,974 shares during the last quarter. Jane Street Group LLC boosted its stake in Aveanna Healthcare by 522.0% during the 1st 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. MQS Management LLC acquired a new stake in Aveanna Healthcare in the 2nd quarter valued at approximately $59,000. Finally, Belvedere Trading LLC bought a new position in Aveanna Healthcare in the 2nd quarter worth approximately $62,000. 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.