Aveanna Healthcare (NASDAQ:AVAH) Sees Large Volume Increase – Should You Buy?

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) saw unusually-high trading volume on Tuesday . Approximately 849,643 shares were traded during mid-day trading, an increase of 142% from the previous session’s volume of 351,202 shares.The stock last traded at $5.58 and had previously closed at $5.47.

Analyst Upgrades and Downgrades

AVAH has been the subject of several research reports. Truist Financial reduced their price objective on 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 increased their price target on Aveanna Healthcare from $4.50 to $5.00 and gave the stock a “sell” rating in a research note on Friday, May 9th.

Aveanna Healthcare Stock Up 2.3%

The company has a market cap of $1.09 billion, a P/E ratio of -16.51 and a beta of 2.03. The firm’s 50-day moving average price is $5.08 and its 200-day moving average price is $4.92.

Insider Activity at Aveanna Healthcare

In other news, major shareholder Robert M. Williams, Jr. sold 91,061 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $3,184,727.20. This represents a 14.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder J.H. Whitney Equity Partners V sold 1,560,700 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $5.36, for a total value of $8,365,352.00. Following the completion of the sale, the insider now owns 29,640,756 shares in the company, valued at $158,874,452.16. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,887,612 shares of company stock worth $26,269,057. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aveanna Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVAH. Banque Transatlantique SA bought a new position in shares of Aveanna Healthcare in the 1st quarter worth $25,000. BNP Paribas Financial Markets bought a new stake in Aveanna Healthcare during the fourth quarter worth about $35,000. KLP Kapitalforvaltning AS purchased a new position in shares of Aveanna Healthcare in the 4th quarter worth about $35,000. Tower Research Capital LLC TRC boosted its holdings in shares of Aveanna Healthcare by 662.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company’s stock worth $36,000 after purchasing an additional 6,854 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Aveanna Healthcare during the 1st quarter valued at about $59,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

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.