T. Rowe Price Investment Management Inc. Increases Stock Holdings in InnovAge Holding Corp. (NASDAQ:INNV)

T. Rowe Price Investment Management Inc. lifted its stake in shares of InnovAge Holding Corp. (NASDAQ:INNV - Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,037,688 shares of the company's stock after purchasing an additional 281,551 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.72% of InnovAge worth $19,799,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of InnovAge by 143.6% in the 4th quarter. JPMorgan Chase & Co. now owns 60,143 shares of the company's stock worth $236,000 after acquiring an additional 35,456 shares during the period. Geode Capital Management LLC boosted its stake in shares of InnovAge by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 527,955 shares of the company's stock worth $3,168,000 after acquiring an additional 27,304 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of InnovAge by 14.5% in the 4th quarter. Renaissance Technologies LLC now owns 162,000 shares of the company's stock worth $637,000 after acquiring an additional 20,500 shares during the period. Barclays PLC increased its stake in InnovAge by 289.0% in the 3rd quarter. Barclays PLC now owns 25,614 shares of the company's stock valued at $154,000 after purchasing an additional 19,029 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in InnovAge during the fourth quarter worth $43,000. 12.26% of the stock is owned by institutional investors and hedge funds.

InnovAge Trading Down 1.9 %

Shares of INNV opened at $3.07 on Friday. InnovAge Holding Corp. has a 1-year low of $2.60 and a 1-year high of $6.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $4.05. The stock has a market cap of $415.20 million, a price-to-earnings ratio of -16.16 and a beta of 0.41.

InnovAge (NASDAQ:INNV - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported ($0.10) earnings per share (EPS) for the quarter. InnovAge had a negative return on equity of 9.45% and a negative net margin of 3.19%. Equities analysts forecast that InnovAge Holding Corp. will post -0.12 EPS for the current fiscal year.

InnovAge 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 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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