Barclays PLC Purchases 3,485 Shares of InnovAge Holding Corp. (NASDAQ:INNV)

Barclays PLC raised its position in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,099 shares of the company’s stock after purchasing an additional 3,485 shares during the quarter. Barclays PLC’s holdings in InnovAge were worth $115,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. SG Americas Securities LLC purchased a new position in shares of InnovAge during the 4th quarter worth about $43,000. JPMorgan Chase & Co. boosted its holdings in shares of InnovAge by 191.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,687 shares of the company’s stock valued at $148,000 after acquiring an additional 16,217 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of InnovAge by 14.5% during the 4th quarter. Renaissance Technologies LLC now owns 162,000 shares of the company’s stock valued at $637,000 after purchasing an additional 20,500 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

InnovAge Stock Performance

INNV opened at $4.10 on Thursday. InnovAge Holding Corp. has a twelve month low of $2.60 and a twelve month high of $6.69. The firm has a market capitalization of $553.55 million, a PE ratio of -21.58 and a beta of 0.40. The firm’s 50-day moving average price is $3.09 and its 200 day moving average price is $3.83. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.

InnovAge (NASDAQ:INNV) last posted its earnings results on Tuesday, May 6th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). InnovAge had a negative return on equity of 9.45% and a negative net margin of 3.19%. The business had revenue of $218.14 million for the quarter, compared to analysts’ expectations of $214.09 million. As a group, sell-side analysts expect that InnovAge Holding Corp. will post -0.12 EPS for the current fiscal year.

Insider Activity

In other news, COO Michael Anthony Scarbrough purchased 13,000 shares of InnovAge stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $3.73 per share, with a total value of $48,490.00. Following the completion of the acquisition, the chief operating officer now owns 23,000 shares in the company, valued at $85,790. The trade was a 130.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

About InnovAge

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.