InnovAge Holding Corp. (NASDAQ:INNV) Insider Sells $26,013.40 in Stock

InnovAge Holding Corp. (NASDAQ:INNV) insider Nicole Damato sold 4,372 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.95, for a total transaction of $26,013.40. Following the sale, the insider now directly owns 240,795 shares in the company, valued at $1,432,730.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

InnovAge Trading Up 0.7 %

INNV traded up $0.04 during midday trading on Wednesday, hitting $5.99. 49,829 shares of the company were exchanged, compared to its average volume of 38,083. The firm’s 50 day moving average price is $6.05 and its 200-day moving average price is $5.03. InnovAge Holding Corp. has a 1-year low of $3.52 and a 1-year high of $7.20. The firm has a market capitalization of $814.57 million, a P/E ratio of -25.00 and a beta of 0.39. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.27.

InnovAge (NASDAQ:INNV) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. InnovAge had a negative return on equity of 7.43% and a negative net margin of 2.79%. The company had revenue of $199.40 million for the quarter, compared to analyst estimates of $190.19 million. During the same period in the previous year, the firm earned ($0.09) earnings per share.

Institutional Investors Weigh In On InnovAge

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in InnovAge by 7.0% in the second quarter. Rhumbline Advisers now owns 27,503 shares of the company’s stock worth $136,000 after acquiring an additional 1,793 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of InnovAge by 27.1% during the second quarter. Bank of New York Mellon Corp now owns 58,322 shares of the company’s stock valued at $289,000 after acquiring an additional 12,448 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of InnovAge during the second quarter worth approximately $496,000. Renaissance Technologies LLC lifted its holdings in shares of InnovAge by 3.1% in the 2nd quarter. Renaissance Technologies LLC now owns 136,400 shares of the company’s stock worth $677,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Kent Lake Capital LLC grew its position in InnovAge by 3.7% in the 1st quarter. Kent Lake Capital LLC now owns 1,750,000 shares of the company’s stock valued at $7,770,000 after purchasing an additional 62,141 shares during the period. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.