JPMorgan Chase & Co. Purchases 35,456 Shares of InnovAge Holding Corp. (NASDAQ:INNV)

JPMorgan Chase & Co. lifted its position in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 143.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 60,143 shares of the company’s stock after acquiring an additional 35,456 shares during the quarter. JPMorgan Chase & Co.’s holdings in InnovAge were worth $236,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in InnovAge by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 527,955 shares of the company’s stock worth $3,168,000 after buying an additional 27,304 shares during the period. Barclays PLC lifted its position in shares of InnovAge by 289.0% during the third quarter. Barclays PLC now owns 25,614 shares of the company’s stock worth $154,000 after acquiring an additional 19,029 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of InnovAge in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

InnovAge Stock Performance

NASDAQ:INNV opened at $3.15 on Friday. InnovAge Holding Corp. has a 52-week low of $2.60 and a 52-week high of $6.69. The business’s fifty day moving average is $3.06 and its 200 day moving average is $3.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $426.02 million, a price-to-earnings ratio of -16.58 and a beta of 0.41.

InnovAge (NASDAQ:INNV) last announced its quarterly 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%. Research analysts predict that InnovAge Holding Corp. will post -0.12 EPS for the current 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 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.