Aveanna Healthcare (NASDAQ:AVAH) Stock Price Down 6% After Insider Selling

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shares were down 6% during trading on Friday following insider selling activity. The company traded as low as $5.09 and last traded at $5.14. Approximately 215,932 shares changed hands during trading, a decline of 9% from the average daily volume of 236,904 shares. The stock had previously closed at $5.46.

Specifically, major shareholder J.H. Whitney Equity Partners V sold 61,564 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $5.51, for a total value of $339,217.64. Following the transaction, the insider now owns 1,453,948 shares of the company’s stock, valued at approximately $8,011,253.48. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AVAH shares. Truist Financial decreased their target price on shares of Aveanna Healthcare from $6.00 to $5.25 and set a “hold” rating on the stock in a research note on Monday, January 6th. UBS Group lifted their price objective on shares of Aveanna Healthcare from $3.20 to $4.50 and gave the company a “sell” rating in a research report on Friday, March 14th.

Aveanna Healthcare Stock Down 3.1 %

The firm’s 50 day simple moving average is $4.65 and its 200 day simple moving average is $4.96. The company has a market capitalization of $1.03 billion, a PE ratio of -15.56 and a beta of 2.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVAH. KLP Kapitalforvaltning AS purchased a new stake in shares of Aveanna Healthcare during the fourth quarter valued at $35,000. BNP Paribas Financial Markets bought a new stake in shares of Aveanna Healthcare in the fourth quarter valued at about $35,000. Tower Research Capital LLC TRC raised its holdings in shares of Aveanna Healthcare by 662.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,889 shares of the company’s stock valued at $36,000 after acquiring an additional 6,854 shares in the last quarter. Catalyst Funds Management Pty Ltd raised its holdings in shares of Aveanna Healthcare by 321.4% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 11,800 shares of the company’s stock valued at $54,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Sagespring Wealth Partners LLC bought a new stake in shares of Aveanna Healthcare in the fourth quarter valued at about $57,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

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.