Renaissance Technologies LLC Decreases Position in Aveanna Healthcare Holdings Inc. $AVAH

Renaissance Technologies LLC trimmed its holdings in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) by 8.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 905,943 shares of the company’s stock after selling 88,573 shares during the quarter. Renaissance Technologies LLC owned about 0.42% of Aveanna Healthcare worth $5,834,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Aveanna Healthcare by 38.0% during the 4th quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company’s stock worth $45,564,000 after buying an additional 1,535,351 shares during the last quarter. Millennium Management LLC grew its position in shares of Aveanna Healthcare by 1,007.1% in the 4th quarter. Millennium Management LLC now owns 1,114,717 shares of the company’s stock valued at $9,107,000 after buying an additional 1,014,030 shares during the last quarter. Nuveen LLC grew its position in shares of Aveanna Healthcare by 135.9% in the 4th quarter. Nuveen LLC now owns 1,571,308 shares of the company’s stock valued at $12,838,000 after buying an additional 905,316 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Aveanna Healthcare by 451.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 959,488 shares of the company’s stock worth $8,511,000 after acquiring an additional 785,452 shares in the last quarter. Finally, Zimmer Partners LP purchased a new stake in Aveanna Healthcare in the fourth quarter valued at $6,189,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVAH has been the subject of several research analyst reports. Barclays upped their price objective on shares of Aveanna Healthcare from $9.00 to $9.50 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Aveanna Healthcare in a report on Thursday, July 2nd. Truist Financial upped their target price on Aveanna Healthcare from $9.00 to $11.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada upgraded Aveanna Healthcare from a “sector perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research note on Wednesday, June 3rd. Finally, Stephens raised Aveanna Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $10.00 to $11.00 in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.78.

Aveanna Healthcare Price Performance

Shares of AVAH opened at $9.33 on Thursday. Aveanna Healthcare Holdings Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $10.32. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 0.93 and a beta of 1.90. The firm has a 50-day simple moving average of $8.53 and a 200-day simple moving average of $7.71. The company has a debt-to-equity ratio of 5.35, a quick ratio of 1.47 and a current ratio of 1.47.

Aveanna Healthcare (NASDAQ:AVAH) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The firm had revenue of $647.91 million for the quarter, compared to analysts’ expectations of $613.22 million. Aveanna Healthcare had a return on equity of 124.68% and a net margin of 10.37%.The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities research analysts anticipate that Aveanna Healthcare Holdings Inc. will post 0.68 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Robert M. Williams, Jr. sold 7,000,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $6.24, for a total transaction of $43,680,000.00. Following the completion of the sale, the insider directly owned 252,899 shares of the company’s stock, valued at $1,578,089.76. This trade represents a 96.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder J.H. Whitney Equity Partners V sold 5,842,240 shares of Aveanna Healthcare stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $6.24, for a total transaction of $36,455,577.60. Following the completion of the transaction, the insider owned 13,450,547 shares in the company, valued at approximately $83,931,413.28. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 31,305,664 shares of company stock valued at $215,555,910. Company insiders own 5.30% of the company’s stock.

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.