Dimensional Fund Advisors LP Acquires 187,567 Shares of InnovAge Holding Corp. $INNV

Dimensional Fund Advisors LP raised its holdings in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 383.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 236,485 shares of the company’s stock after acquiring an additional 187,567 shares during the quarter. Dimensional Fund Advisors LP’s holdings in InnovAge were worth $1,896,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of INNV. CIBC Asset Management Inc bought a new position in shares of InnovAge during the fourth quarter valued at $57,000. Invesco Ltd. bought a new stake in InnovAge in the 4th quarter worth about $57,000. Deutsche Bank AG increased its holdings in InnovAge by 15.1% in the 4th quarter. Deutsche Bank AG now owns 12,775 shares of the company’s stock worth $66,000 after buying an additional 1,679 shares in the last quarter. Bank of America Corp DE raised its position in InnovAge by 42.4% in the 4th quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock worth $78,000 after buying an additional 5,936 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in InnovAge by 26.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,993 shares of the company’s stock valued at $83,000 after acquiring an additional 3,305 shares during the period. Institutional investors own 12.26% of the company’s stock.

InnovAge Price Performance

NASDAQ INNV opened at $10.65 on Friday. The company has a 50-day moving average price of $10.64 and a 200-day moving average price of $8.87. InnovAge Holding Corp. has a 52 week low of $3.26 and a 52 week high of $12.64. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.45 billion, a P/E ratio of -118.33 and a beta of 0.39.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INNV. Weiss Ratings downgraded shares of InnovAge from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Wall Street Zen cut shares of InnovAge from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Zacks Research downgraded shares of InnovAge from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Sell” and a consensus price target of $7.00.

InnovAge Profile

InnovAge Holdings, Inc (NASDAQ:INNV) is a healthcare services company that specializes in caring for seniors through the Program of All-Inclusive Care for the Elderly (PACE). Designed for individuals who are eligible for both Medicare and Medicaid, the PACE model integrates medical care, social services and long-term care—delivered primarily in participants’ homes and community-based centers. InnovAge’s approach centers on interdisciplinary care teams that coordinate everything from primary and specialty medical services to nutritional counseling and recreational activities.

The company’s core offerings include comprehensive in-home assessments, physician and nursing services, physical and occupational therapy, prescription medication management, and transportation to medical appointments.