Summit Partners L P Has $61.70 Million Stake in Aveanna Healthcare Holdings Inc. $AVAH

Summit Partners L P lessened its position in Aveanna Healthcare Holdings Inc. (NASDAQ:AVAH) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,551,422 shares of the company’s stock after selling 2,100,000 shares during the period. Aveanna Healthcare makes up about 5.9% of Summit Partners L P’s investment portfolio, making the stock its 4th biggest holding. Summit Partners L P’s holdings in Aveanna Healthcare were worth $61,695,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Aveanna Healthcare by 38.0% in the fourth quarter. Vanguard Group Inc. now owns 5,577,010 shares of the company’s stock valued at $45,564,000 after purchasing an additional 1,535,351 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Aveanna Healthcare in the third quarter valued at approximately $15,743,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Aveanna Healthcare by 70.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,130,912 shares of the company’s stock valued at $10,031,000 after buying an additional 466,022 shares during the period. Algert Global LLC boosted its holdings in shares of Aveanna Healthcare by 120.1% in the third quarter. Algert Global LLC now owns 1,022,599 shares of the company’s stock valued at $9,070,000 after buying an additional 557,898 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Aveanna Healthcare by 451.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 959,488 shares of the company’s stock valued at $8,511,000 after buying an additional 785,452 shares during the period. Institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

AVAH has been the subject of several research analyst reports. Zacks Research cut shares of Aveanna Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. BMO Capital Markets reduced their price target on shares of Aveanna Healthcare from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Raymond James Financial upgraded shares of Aveanna Healthcare from an “outperform” rating to a “strong-buy” rating and set a $13.00 price target for the company in a report on Friday, March 20th. Weiss Ratings cut shares of Aveanna Healthcare from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 6th. Finally, Royal Bank Of Canada upped their price target on shares of Aveanna Healthcare from $9.00 to $10.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Aveanna Healthcare Stock Performance

Shares of AVAH opened at $7.67 on Friday. The firm has a fifty day simple moving average of $6.75 and a 200 day simple moving average of $7.86. Aveanna Healthcare Holdings Inc. has a 12 month low of $3.73 and a 12 month high of $10.32. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 5.35. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 6.50, a PEG ratio of 0.91 and a beta of 1.93.

Aveanna Healthcare (NASDAQ:AVAH) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. The company had revenue of $647.92 million during 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 was up 15.9% compared to the same quarter last year. Research analysts forecast that Aveanna Healthcare Holdings Inc. will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling at Aveanna Healthcare

In other news, insider Patrick A. Cunningham sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $7.59, for a total value of $948,750.00. Following the completion of the transaction, the insider owned 212,755 shares in the company, valued at $1,614,810.45. This trade represents a 37.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.30% of the stock is owned by insiders.

Aveanna Healthcare Profile

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.