Strs Ohio Sells 3,600 Shares of InnovAge Holding Corp. (NASDAQ:INNV)

Strs Ohio lowered its position in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 69,800 shares of the company’s stock after selling 3,600 shares during the period. Strs Ohio’s holdings in InnovAge were worth $418,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kent Lake Capital LLC increased its holdings in shares of InnovAge by 20.5% during the third quarter. Kent Lake Capital LLC now owns 1,402,323 shares of the company’s stock valued at $8,400,000 after acquiring an additional 238,551 shares in the last quarter. Cambiar Investors LLC grew its stake in shares of InnovAge by 10.5% during the 3rd quarter. Cambiar Investors LLC now owns 303,557 shares of the company’s stock valued at $1,818,000 after purchasing an additional 28,890 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of InnovAge by 386.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,078 shares of the company’s stock valued at $30,000 after purchasing an additional 4,034 shares during the period. 12.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INNV. The Goldman Sachs Group cut their price target on InnovAge from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. JPMorgan Chase & Co. dropped their price target on InnovAge from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th.

InnovAge Trading Up 2.9 %

INNV stock opened at $3.91 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $531.37 million, a price-to-earnings ratio of -15.64 and a beta of 0.15. InnovAge Holding Corp. has a 1-year low of $3.80 and a 1-year high of $8.05. The business has a 50 day simple moving average of $4.51 and a two-hundred day simple moving average of $5.27.

InnovAge (NASDAQ:INNV) last posted its earnings results on Monday, February 5th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). InnovAge had a negative return on equity of 10.53% and a negative net margin of 4.38%. The firm had revenue of $188.90 million during the quarter, compared to the consensus estimate of $181.51 million. During the same period in the prior year, the company earned ($0.07) EPS. Research analysts anticipate that InnovAge Holding Corp. will post -0.14 EPS for the current fiscal year.

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.