Aveanna Healthcare (NASDAQ:AVAH) Stock Price Down 4.5% After Analyst Downgrade

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH)’s share price dropped 4.5% 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 increased their target price on Aveanna Healthcare from $3.20 to $4.50 and gave the stock a “sell” rating in a report on Friday, March 14th.

Insider Activity

In other Aveanna Healthcare news, major shareholder J.H. Whitney Equity Partners V sold 61,564 shares of the business’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 transaction of $339,217.64. Following the transaction, the insider now owns 1,453,948 shares of the company’s stock, valued at $8,011,253.48. The trade was a 4.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 67,412 shares of company stock worth $372,142 over the last ninety days. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Aveanna Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVAH. Price T Rowe Associates Inc. MD increased its stake in shares of Aveanna Healthcare by 5.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,699 shares of the company’s stock valued at $246,000 after purchasing an additional 2,649 shares during the last quarter. Rhumbline Advisers grew its position in Aveanna Healthcare by 4.0% in the first quarter. Rhumbline Advisers now owns 75,581 shares of the company’s stock valued at $410,000 after acquiring an additional 2,918 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Aveanna Healthcare by 15.7% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,171 shares of the company’s stock worth $115,000 after acquiring an additional 3,407 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Aveanna Healthcare by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 466,706 shares of the company’s stock worth $2,133,000 after acquiring an additional 4,047 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Aveanna Healthcare by 26.0% in the 4th quarter. SG Americas Securities LLC now owns 24,366 shares of the company’s stock valued at $111,000 after purchasing an additional 5,031 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Aveanna Healthcare Stock Performance

The firm’s fifty day moving average is $4.79 and its 200-day moving average is $4.93. The company has a market capitalization of $875.97 million, a P/E ratio of -13.21 and a beta of 1.99.

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.