Aveanna Healthcare (NASDAQ:AVAH) Shares Gap Down Following Insider Selling

Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) shares gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $5.32, but opened at $4.85. Aveanna Healthcare shares last traded at $5.01, with a volume of 46,034 shares.

Specifically, major shareholder J.H. Whitney Equity Partners V sold 5,580 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $5.63, for a total value of $31,415.40. Following the completion of the sale, the insider now owns 1,451,598 shares of the company’s stock, valued at $8,172,496.74. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial lowered their price target on shares of Aveanna Healthcare from $6.00 to $5.25 and set a “hold” rating for the company in a report on Monday, January 6th. UBS Group upped 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 Trading Down 5.5 %

The company has a market capitalization of $981.32 million, a price-to-earnings ratio of -14.79 and a beta of 2.25. The stock has a 50-day simple moving average of $4.78 and a 200-day simple moving average of $4.96.

Institutional Trading of Aveanna Healthcare

Several institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new stake in shares of Aveanna Healthcare in the 4th quarter worth about $35,000. BNP Paribas Financial Markets acquired a new position in Aveanna Healthcare in the fourth quarter worth about $35,000. Tower Research Capital LLC TRC increased its holdings in 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 buying an additional 6,854 shares during the last quarter. Catalyst Funds Management Pty Ltd raised its stake in Aveanna Healthcare by 321.4% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 11,800 shares of the company’s stock valued at $54,000 after buying an additional 9,000 shares in the last quarter. Finally, Sagespring Wealth Partners LLC bought a new position in Aveanna Healthcare during the 4th quarter worth approximately $57,000. 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.