Squarepoint Ops LLC has significantly increased its investment in Aveanna Healthcare Holdings Inc. (NASDAQ: AVAH), raising its stake by 207% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the firm now owns 479,977 shares, having acquired an additional 323,656 shares during the period. As of the latest filing, Squarepoint Ops holds a position valued at approximately $2.51 million, which represents about 0.23% of Aveanna’s total stock.
A number of institutional investors have also made moves in Aveanna Healthcare recently. Banque Transatlantique SA initiated a new position valued at around $25,000 in the first quarter. In the second quarter, Quantbot Technologies LP and Diversified Trust Co. acquired new stakes valued at approximately $43,000 and $57,000, respectively. Additionally, Jump Financial LLC and MQS Management LLC each entered the company with investments around $59,000. Overall, institutional investors collectively own 87.96% of Aveanna Healthcare stock.
Aveanna’s Financial Metrics and Stock Performance
Aveanna Healthcare opened trading at $8.94 on Thursday, October 24, 2023. The company has a debt-to-equity ratio of 140.39, with both a quick ratio and current ratio of 1.23. Over the past year, the firm has experienced fluctuations, with shares ranging from a low of $3.67 to a high of $10.32. Aveanna Healthcare boasts a market capitalization of $1.87 billion, a price-to-earnings ratio of 24.83, and a beta of 2.04. Its fifty-day moving average stands at $9.14, while the two-hundred-day average is recorded at $7.23.
In related transactions, major shareholders have made substantial sales. On October 24, Robert M. Williams, Jr. sold 1,500,000 shares at an average price of $9.00, resulting in a total value of $13.5 million. Following this sale, Williams retained 362,746 shares, a decrease of 80.53% in his ownership. Similarly, Paul R. Vigano executed a sale of 1,500,000 shares on the same day, with the same average sale price, leading to a parallel reduction in his holdings.
Analyst Ratings and Market Outlook
Recent analyst reports reflect a mixed outlook for Aveanna Healthcare. Weiss Ratings reaffirmed a “hold (c)” rating on October 8, while the Royal Bank of Canada raised its price target from $8.00 to $10.00, maintaining a “sector perform” rating as of October 24. Jefferies Financial Group increased its price objective from $11.00 to $12.50, assigning a “buy” rating on October 28. UBS Group also boosted its target for Aveanna from $9.00 to $9.50, continuing a “neutral” rating.
In contrast, Zacks Research downgraded Aveanna’s stock from a “strong-buy” to a “hold” rating on October 20. Currently, five investment analysts have assigned a “buy” rating, while six maintain a “hold.” According to data from MarketBeat, the consensus recommendation for Aveanna Healthcare is a “hold” with a price target of $10.69.
Aveanna Healthcare Holdings Inc. operates as a diversified home care platform in the United States, providing both pediatric and adult healthcare services. The company focuses on patient-centered care, enabling individuals to receive treatment in their homes, thereby reducing the reliance on expensive hospital and skilled nursing facility services.
