Aveanna Healthcare (NASDAQ:AVAH) Shares Down 6% Following Insider Selling

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) dropped 6% on Friday following insider selling activity. The company traded as low as $5.09 and last traded at $5.14. Approximately 215,932 shares traded hands during mid-day trading, a decline of 9% from the average daily 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 Aveanna Healthcare stock in a transaction 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 directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of equities analysts recently commented on AVAH shares. Truist Financial lowered their target price on Aveanna Healthcare from $6.00 to $5.25 and set a “hold” rating for the company in a report on Monday, January 6th. UBS Group lifted their price objective on shares of Aveanna Healthcare from $3.20 to $4.50 and gave the company a “sell” rating in a report on Friday, March 14th.

Aveanna Healthcare Trading Down 3.1 %

The company has a market cap of $1.03 billion, a PE ratio of -15.56 and a beta of 2.25. The company has a fifty day simple moving average of $4.65 and a two-hundred day simple moving average of $4.96.

Hedge Funds Weigh In On Aveanna Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Aveanna Healthcare in the third quarter worth approximately $817,000. Intech Investment Management LLC acquired a new stake in shares of Aveanna Healthcare in the 3rd quarter valued at $69,000. Charles Schwab Investment Management Inc. lifted its position in shares of Aveanna Healthcare by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 462,659 shares of the company’s stock worth $2,406,000 after purchasing an additional 17,522 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Aveanna Healthcare during the third quarter worth $136,000. Finally, Centiva Capital LP purchased a new position in Aveanna Healthcare in the third quarter valued at $138,000. 87.96% of the stock is owned by institutional investors and hedge funds.

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.