InnovAge Holding Corp. (NASDAQ:INNV) Insider Sells $26,013.40 in Stock

InnovAge Holding Corp. (NASDAQ:INNV) insider Nicole Damato sold 4,372 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.95, for a total value of $26,013.40. Following the completion of the transaction, the insider now directly owns 240,795 shares in the company, valued at $1,432,730.25. The sale was disclosed in a legal filing with the SEC, which is available through this link.

InnovAge Trading Down 2.3 %

Shares of INNV opened at $5.96 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $810.49 million, a price-to-earnings ratio of -24.83 and a beta of 0.39. The stock has a fifty day moving average price of $6.09 and a two-hundred day moving average price of $5.05. InnovAge Holding Corp. has a 52-week low of $3.52 and a 52-week high of $6.99.

InnovAge (NASDAQ:INNV) last released its quarterly earnings results on Tuesday, September 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. InnovAge had a negative return on equity of 7.43% and a negative net margin of 2.79%. The business had revenue of $199.40 million during the quarter, compared to analysts’ expectations of $190.19 million. During the same period in the previous year, the business posted ($0.09) earnings per share.

Hedge Funds Weigh In On InnovAge

Large investors have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in shares of InnovAge by 7.0% in the second quarter. Rhumbline Advisers now owns 27,503 shares of the company’s stock valued at $136,000 after purchasing an additional 1,793 shares in the last quarter. Renaissance Technologies LLC boosted its position in InnovAge by 3.1% in the 2nd 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 during the last quarter. Bank of New York Mellon Corp increased its stake in shares of InnovAge by 27.1% in the 2nd 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 during the period. Vanguard Group Inc. raised its position in shares of InnovAge by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,842,764 shares of the company’s stock worth $8,182,000 after acquiring an additional 13,193 shares during the last quarter. Finally, Kent Lake Capital LLC lifted its stake in shares of InnovAge by 3.7% during the first quarter. Kent Lake Capital LLC now owns 1,750,000 shares of the company’s stock valued at $7,770,000 after acquiring an additional 62,141 shares during the period. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.