Aveanna Healthcare (NASDAQ:AVAH) Sees Strong Trading Volume – Should You Buy?

Shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) saw unusually-strong trading volume on Monday . Approximately 1,621,038 shares were traded during mid-day trading, an increase of 458% from the previous session’s volume of 290,374 shares.The stock last traded at $5.67 and had previously closed at $5.99.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AVAH shares. Truist Financial reduced their target price on shares of Aveanna Healthcare from $6.00 to $5.50 and set a “hold” rating for the company in a report on Friday, April 11th. UBS Group upped their price objective on shares of Aveanna Healthcare from $4.50 to $5.00 and gave the company a “sell” rating in a report on Friday, May 9th.

Aveanna Healthcare Price Performance

The company’s fifty day moving average price is $5.04 and its 200-day moving average price is $4.92. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -16.54 and a beta of 2.01.

Insider Activity at Aveanna Healthcare

In other Aveanna Healthcare news, major shareholder J.H. Whitney Equity Partners V sold 61,564 shares of the company’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 sale, the insider now owns 1,453,948 shares in the company, valued at approximately $8,011,253.48. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Robert M. Williams, Jr. sold 91,061 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $5.84, for a total value of $531,796.24. Following the transaction, the insider now owns 545,330 shares in the company, valued at $3,184,727.20. This trade represents a 14.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 205,512 shares of company stock worth $1,173,001 over the last quarter. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Aveanna Healthcare by 266.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 85,714 shares of the company’s stock valued at $446,000 after purchasing an additional 62,319 shares during the last quarter. Legal & General Group Plc raised its stake in Aveanna Healthcare by 577.0% in the 4th quarter. Legal & General Group Plc now owns 36,409 shares of the company’s stock valued at $166,000 after purchasing an additional 31,031 shares during the last quarter. Rhumbline Advisers raised its stake in Aveanna Healthcare by 11.1% in the 4th quarter. Rhumbline Advisers now owns 72,663 shares of the company’s stock valued at $332,000 after purchasing an additional 7,257 shares during the last quarter. Arizona State Retirement System acquired a new position in Aveanna Healthcare in the 4th quarter valued at $64,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Aveanna Healthcare in the 4th quarter valued at $35,000. 87.96% of the stock is owned by institutional investors and hedge funds.

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.