InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report) traded down 5.5% during mid-day trading on Friday . The stock traded as low as $4.31 and last traded at $4.33. 21,272 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 38,194 shares. The stock had previously closed at $4.58.
Analysts Set New Price Targets
Separately, KeyCorp initiated coverage on InnovAge in a research note on Friday, October 11th. They issued a "sector weight" rating for the company.
Check Out Our Latest Stock Report on InnovAge
InnovAge Stock Down 3.1 %
The business's 50-day simple moving average is $5.40 and its 200-day simple moving average is $5.54. The company has a market capitalization of $601.42 million, a PE ratio of -37.00 and a beta of 0.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27.
InnovAge (NASDAQ:INNV - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $205.14 million during the quarter, compared to analysts' expectations of $203.35 million. InnovAge had a negative net margin of 2.03% and a negative return on equity of 5.68%. During the same quarter last year, the company posted ($0.08) earnings per share. As a group, equities research analysts anticipate that InnovAge Holding Corp. will post -0.06 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Nicole Damato sold 4,372 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.95, for a total transaction of $26,013.40. Following the sale, the insider now directly owns 240,795 shares of the company's stock, valued at approximately $1,432,730.25. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of InnovAge by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 27,503 shares of the company's stock valued at $136,000 after acquiring an additional 1,793 shares during the period. Barclays PLC grew its holdings in InnovAge by 289.0% in the third quarter. Barclays PLC now owns 25,614 shares of the company's stock valued at $154,000 after purchasing an additional 19,029 shares during the period. Bank of New York Mellon Corp increased its position in shares of InnovAge by 27.1% in the second quarter. Bank of New York Mellon Corp now owns 58,322 shares of the company's stock valued at $289,000 after buying an additional 12,448 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of InnovAge by 3.1% in the second quarter. Renaissance Technologies LLC now owns 136,400 shares of the company's stock valued at $677,000 after buying an additional 4,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of InnovAge by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,531 shares of the company's stock worth $993,000 after buying an additional 6,153 shares during the period. Hedge funds and other institutional investors own 12.26% of the company's stock.
About InnovAge
(
Get Free Report)
InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in its homes and communities. The company manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. It also offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to the PACE center and third-party medical appointments; and care management.
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