Michael Anthony Scarbrough Acquires 10,000 Shares of InnovAge Holding Corp. (NASDAQ:INNV) Stock

InnovAge Holding Corp. (NASDAQ:INNV) COO Michael Anthony Scarbrough bought 10,000 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $3.55 per share, with a total value of $35,500.00. Following the completion of the transaction, the chief operating officer now owns 10,000 shares in the company, valued at approximately $35,500. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, May 12th, Michael Anthony Scarbrough purchased 13,000 shares of InnovAge stock. The shares were acquired at an average cost of $3.73 per share, with a total value of $48,490.00.

InnovAge Trading Up 3.5%

Shares of NASDAQ INNV opened at $4.10 on Thursday. InnovAge Holding Corp. has a 1 year low of $2.60 and a 1 year high of $6.69. The stock has a market cap of $553.55 million, a P/E ratio of -21.58 and a beta of 0.40. The firm has a 50-day moving average of $3.09 and a 200 day moving average of $3.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16.

InnovAge (NASDAQ:INNV) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.08) earnings per share (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 business had revenue of $218.14 million for the quarter, compared to analysts’ expectations of $214.09 million. As a group, sell-side analysts expect that InnovAge Holding Corp. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in InnovAge during the 4th quarter valued at about $43,000. Squarepoint Ops LLC purchased a new position in InnovAge during the 4th quarter valued at about $68,000. Bank of America Corp DE raised its holdings in InnovAge by 42.4% in the fourth 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. Barclays PLC raised its holdings in InnovAge by 13.6% in the fourth quarter. Barclays PLC now owns 29,099 shares of the company’s stock worth $115,000 after buying an additional 3,485 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in InnovAge in the fourth quarter worth about $123,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

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.