InnovAge Holding Corp. (OTCMKTS:INNV) Given Consensus Recommendation of “Hold” by Brokerages

Shares of InnovAge Holding Corp. (OTCMKTS:INNVGet Rating) have been given a consensus rating of “Hold” by the seven ratings firms that are covering the stock, reports. Six investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.98.

Separately, Barclays cut their price target on InnovAge from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 15th.

Insider Buying and Selling

In other InnovAge news, Director Thomas Scully purchased 100,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was acquired at an average price of $5.10 per share, for a total transaction of $510,000.00. Following the purchase, the director now owns 100,000 shares of the company’s stock, valued at approximately $510,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INNV. Tcwp LLC purchased a new position in shares of InnovAge during the first quarter valued at about $25,000. Gleason Group Inc. lifted its holdings in shares of InnovAge by 400.0% in the 1st quarter. Gleason Group Inc. now owns 5,000 shares of the company’s stock valued at $32,000 after acquiring an additional 4,000 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of InnovAge in the 2nd quarter valued at about $37,000. Captrust Financial Advisors lifted its holdings in shares of InnovAge by 4,122.1% in the 1st quarter. Captrust Financial Advisors now owns 5,742 shares of the company’s stock valued at $37,000 after acquiring an additional 5,606 shares during the last quarter. Finally, Martingale Asset Management L P bought a new position in shares of InnovAge in the 2nd quarter valued at about $58,000. Hedge funds and other institutional investors own 12.43% of the company’s stock.

InnovAge Stock Up 13.0 %

INNV stock opened at $6.25 on Thursday. InnovAge has a fifty-two week low of $3.39 and a fifty-two week high of $14.01. The business’s 50 day moving average price is $4.30 and its two-hundred day moving average price is $4.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.29 and a current ratio of 2.29. The company has a market capitalization of $847.29 million, a price-to-earnings ratio of -156.21 and a beta of 1.22.

InnovAge (OTCMKTS:INNVGet Rating) last posted its earnings results on Tuesday, September 13th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). InnovAge had a negative return on equity of 0.69% and a negative net margin of 0.93%.

InnovAge Company Profile

(Get Rating)

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. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. The company 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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