Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Aveanna Healthcare Holdings Inc. $AVAH

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 919,627 shares of the company’s stock, valued at approximately $7,881,000. Connor Clark & Lunn Investment Management Ltd. owned 0.42% of Aveanna Healthcare as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AVAH. Caitong International Asset Management Co. Ltd grew its holdings in Aveanna Healthcare by 252.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,351 shares of the company’s stock valued at $27,000 after purchasing an additional 2,400 shares in the last quarter. Quantbot Technologies LP acquired a new position in Aveanna Healthcare in the 2nd quarter worth $43,000. Summit Securities Group LLC acquired a new position in Aveanna Healthcare in the 1st quarter worth $53,000. Oxford Asset Management LLP purchased a new position in Aveanna Healthcare in the 2nd quarter valued at about $64,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Aveanna Healthcare in the 2nd quarter valued at about $69,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AVAH shares. Stephens raised Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $11.00 in a research report on Friday, May 15th. BMO Capital Markets increased their price target on Aveanna Healthcare from $10.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Royal Bank Of Canada raised their price objective on Aveanna Healthcare from $10.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday. Barclays lifted their price objective on Aveanna Healthcare from $9.00 to $9.50 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, UBS Group upped their target price on Aveanna Healthcare from $8.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Aveanna Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $12.89.

Insider Activity

In other Aveanna Healthcare news, major shareholder Paul R. Vigano sold 2,250,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $11.50, for a total transaction of $25,875,000.00. Following the transaction, the insider owned 12,315,892 shares of the company’s stock, valued at $141,632,758. This trade represents a 15.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder J.H. Whitney Equity Partners V sold 2,250,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $11.50, for a total value of $25,875,000.00. Following the completion of the sale, the insider owned 12,315,892 shares of the company’s stock, valued at $141,632,758. This trade represents a 15.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,746,745 shares of company stock valued at $773,117,091 over the last three months. Company insiders own 5.30% of the company’s stock.

Aveanna Healthcare Price Performance

AVAH opened at $13.62 on Thursday. The company has a 50-day moving average of $9.95 and a 200-day moving average of $8.03. The company has a market capitalization of $2.97 billion, a P/E ratio of 11.07, a PEG ratio of 0.85 and a beta of 1.90. Aveanna Healthcare Holdings Inc. has a 1-year low of $5.93 and a 1-year high of $13.98. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.16 and a current ratio of 1.16.

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