InnovAge (NASDAQ:INNV) Shares Gap Up to $6.07

InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $6.07, but opened at $6.33. InnovAge shares last traded at $6.33, with a volume of 463 shares changing hands.

InnovAge Stock Performance

The company has a 50 day moving average price of $5.65 and a 200-day moving average price of $4.91. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.25. The company has a market cap of $859.44 million, a P/E ratio of -26.33 and a beta of 0.39.

Institutional Investors Weigh In On InnovAge

A number of hedge funds and other institutional investors have recently bought and sold shares of INNV. Vanguard Group Inc. grew its position in shares of InnovAge by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,842,764 shares of the company's stock valued at $8,182,000 after buying an additional 13,193 shares during the last quarter. Kent Lake Capital LLC raised its stake in shares of InnovAge by 3.7% in the first quarter. Kent Lake Capital LLC now owns 1,750,000 shares of the company's stock worth $7,770,000 after purchasing an additional 62,141 shares during the last quarter. Renaissance Technologies LLC grew its holdings 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 acquiring an additional 4,100 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of InnovAge in the second quarter valued at approximately $496,000. Finally, Bank of New York Mellon Corp grew its holdings in InnovAge by 27.1% during the second quarter. Bank of New York Mellon Corp now owns 58,322 shares of the company's stock valued at $289,000 after purchasing an additional 12,448 shares during the period. Institutional investors own 12.26% of the company's stock.

InnovAge Company Profile

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 their 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.