Aveanna Healthcare (NASDAQ:AVAH) Trading Down 4.5% Following Analyst Downgrade

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price dropped 4.5% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $6.00 to $5.50. Truist Financial currently has a hold rating on the stock. Aveanna Healthcare traded as low as $4.50 and last traded at $4.59. Approximately 139,805 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 252,068 shares. The stock had previously closed at $4.80.

Separately, UBS Group raised their target price on Aveanna Healthcare from $3.20 to $4.50 and gave the stock a “sell” rating in a research note on Friday, March 14th.

Insider Buying and Selling at Aveanna Healthcare

In other news, major shareholder J.H. Whitney Equity Partners V sold 5,580 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $5.63, for a total value of $31,415.40. Following the completion of the transaction, the insider now owns 1,451,598 shares in the company, valued at $8,172,496.74. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders have sold 67,412 shares of company stock valued at $372,142. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aveanna Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVAH. KLP Kapitalforvaltning AS bought a new position in shares of Aveanna Healthcare in the 4th quarter worth about $35,000. BNP Paribas Financial Markets bought a new position in shares of Aveanna Healthcare during the fourth quarter valued at approximately $35,000. Tower Research Capital LLC TRC lifted its holdings in shares of Aveanna Healthcare by 662.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company’s stock valued at $36,000 after purchasing an additional 6,854 shares during the last quarter. Catalyst Funds Management Pty Ltd boosted its position in shares of Aveanna Healthcare by 321.4% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 11,800 shares of the company’s stock worth $54,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Sagespring Wealth Partners LLC purchased a new stake in shares of Aveanna Healthcare in the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Aveanna Healthcare Stock Performance

The company has a market cap of $875.97 million, a P/E ratio of -13.21 and a beta of 1.99. The stock has a 50-day moving average of $4.79 and a two-hundred day moving average of $4.93.

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.