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

Barclays PLC increased its holdings in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 13.6% in the fourth quarter, HoldingsChannel reports. 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 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in InnovAge during the fourth quarter worth approximately $43,000. JPMorgan Chase & Co. boosted its holdings in shares of InnovAge by 191.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,687 shares of the company’s stock worth $148,000 after buying an additional 16,217 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of InnovAge by 14.5% during the fourth quarter. Renaissance Technologies LLC now owns 162,000 shares of the company’s stock valued at $637,000 after acquiring an additional 20,500 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

InnovAge Stock Performance

Shares of INNV opened at $4.10 on Thursday. The stock has a 50 day moving average of $3.09 and a 200 day moving average of $3.83. InnovAge Holding Corp. has a 12 month low of $2.60 and a 12 month high of $6.69. The company has a market capitalization of $553.55 million, a price-to-earnings ratio of -21.58 and a beta of 0.40. 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 issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $218.14 million for the quarter, compared to the consensus estimate of $214.09 million. InnovAge had a negative net margin of 3.19% and a negative return on equity of 9.45%. As a group, sell-side analysts forecast that InnovAge Holding Corp. will post -0.12 earnings per share for the current year.

Insider Transactions at InnovAge

In other news, COO Michael Anthony Scarbrough acquired 13,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $3.73 per share, with a total value of $48,490.00. Following the completion of the purchase, the chief operating officer now directly owns 23,000 shares in the company, valued at $85,790. This trade represents a 130.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

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.