InnovAge Holding Corp. (NASDAQ:INNV) COO Michael Anthony Scarbrough Purchases 13,000 Shares

InnovAge Holding Corp. (NASDAQ:INNV) COO Michael Anthony Scarbrough bought 13,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $3.73 per share, with a total value of $48,490.00. Following the purchase, the chief operating officer now directly owns 23,000 shares of the company’s stock, valued at $85,790. This trade represents a 130.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Michael Anthony Scarbrough also recently made the following trade(s):

• On Friday, May 9th, Michael Anthony Scarbrough acquired 10,000 shares of InnovAge stock. The stock was purchased at an average cost of $3.55 per share, with a total value of $35,500.00.

InnovAge Trading Up 4.2%

Shares of InnovAge stock opened at $3.96 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. InnovAge Holding Corp. has a 52 week low of $2.60 and a 52 week high of $6.69. The stock has a 50 day moving average price of $3.07 and a two-hundred day moving average price of $3.83. The stock has a market capitalization of $534.65 million, a PE ratio of -20.84 and a beta of 0.40.

InnovAge (NASDAQ:INNV) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). InnovAge had a negative net margin of 3.19% and a negative return on equity of 9.45%. The firm had revenue of $218.14 million during the quarter, compared to analyst estimates of $214.09 million. As a group, equities analysts anticipate that InnovAge Holding Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On InnovAge

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of InnovAge by 289.0% during the third quarter. Barclays PLC now owns 25,614 shares of the company’s stock valued at $154,000 after buying an additional 19,029 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of InnovAge by 191.5% during the third quarter. JPMorgan Chase & Co. now owns 24,687 shares of the company’s stock valued at $148,000 after buying an additional 16,217 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of InnovAge during the fourth quarter valued at approximately $43,000. Renaissance Technologies LLC boosted its position 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 buying an additional 20,500 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of InnovAge by 5.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,037,688 shares of the company’s stock valued at $19,799,000 after buying an additional 281,551 shares during the last quarter. Institutional investors and hedge funds own 12.26% 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.