Legal & General Group Plc Makes New Investment in Aveanna Healthcare Holdings Inc. $AVAH

Legal & General Group Plc purchased a new stake in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 46,255 shares of the company’s stock, valued at approximately $396,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AVAH. Caitong International Asset Management Co. Ltd boosted its holdings in Aveanna Healthcare by 252.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company’s stock valued at $27,000 after acquiring an additional 2,400 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Aveanna Healthcare during the second quarter worth about $43,000. Summit Securities Group LLC purchased a new position in shares of Aveanna Healthcare in the 1st quarter worth about $53,000. Oxford Asset Management LLP acquired a new position in shares of Aveanna Healthcare in the 2nd quarter valued at about $64,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Aveanna Healthcare during the 2nd quarter worth about $69,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on AVAH. BMO Capital Markets raised their price target on shares of Aveanna Healthcare from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Truist Financial boosted their price objective on shares of Aveanna Healthcare from $11.00 to $15.00 and gave the stock a “hold” rating in a research note on Monday, August 24th. Wall Street Zen downgraded shares of Aveanna Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Raymond James Financial upped their price target on shares of Aveanna Healthcare from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 14th. Finally, Stephens upgraded Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $10.00 to $11.00 in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.50.

Insiders Place Their Bets

In other news, major shareholder Paul R. Vigano sold 2,250,000 shares of Aveanna Healthcare stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $11.50, for a total value of $25,875,000.00. Following the completion of the transaction, the insider owned 12,315,892 shares in the company, valued at approximately $141,632,758. This trade represents a 15.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeff Shaner sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $11.50, for a total value of $1,035,000.00. Following the sale, the chief executive officer directly owned 2,561,972 shares in the company, valued at approximately $29,462,678. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 59,904,505 shares of company stock worth $649,301,514. Company insiders own 5.30% of the company’s stock.

Aveanna Healthcare Price Performance

Shares of NASDAQ AVAH opened at $13.66 on Wednesday. The business has a 50 day moving average price of $10.89 and a two-hundred day moving average price of $8.40. Aveanna Healthcare Holdings Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $14.00. The firm has a market cap of $2.98 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 0.85 and a beta of 1.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.47.

Aveanna Healthcare (NASDAQ:AVAH) last released its earnings results on Thursday, August 13th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The company had revenue of $670.48 million during the quarter, compared to analysts’ expectations of $638.61 million. Aveanna Healthcare had a return on equity of 80.70% and a net margin of 10.56%. Sell-side analysts expect that Aveanna Healthcare Holdings Inc. will post 0.75 earnings per share for the current fiscal year.

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.