Winnow Wealth LLC Invests $369,000 in InnovAge Holding Corp. $INNV

Winnow Wealth LLC purchased a new stake in InnovAge Holding Corp. (NASDAQ:INNV) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 100,000 shares of the company’s stock, valued at approximately $369,000. Winnow Wealth LLC owned approximately 0.07% of InnovAge as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in InnovAge by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company’s stock worth $490,000 after purchasing an additional 4,535 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in InnovAge by 4.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,259,843 shares of the company’s stock worth $15,675,000 after acquiring an additional 222,155 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of InnovAge in the second quarter valued at about $110,000. Nuveen LLC acquired a new stake in shares of InnovAge in the first quarter valued at approximately $159,000. Finally, Topline Capital Management LLC increased its stake in shares of InnovAge by 19.4% during the 1st quarter. Topline Capital Management LLC now owns 70,143 shares of the company’s stock worth $209,000 after purchasing an additional 11,403 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. started coverage on InnovAge in a research report on Thursday, September 18th. They set an “underweight” rating and a $5.00 price objective for the company. Wall Street Zen raised InnovAge to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of InnovAge in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell” and an average price target of $5.00.

InnovAge Stock Down 8.6%

Shares of NASDAQ INNV opened at $5.11 on Thursday. The stock has a market capitalization of $693.32 million, a PE ratio of -40.88 and a beta of 0.59. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $5.09 and a 200-day moving average of $4.27. InnovAge Holding Corp. has a 52-week low of $2.60 and a 52-week high of $6.26.

InnovAge (NASDAQ:INNV) last issued its earnings results on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. InnovAge had a negative return on equity of 7.02% and a negative net margin of 1.96%.The firm had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $226.64 million. InnovAge has set its FY 2026 guidance at EPS. On average, analysts anticipate that InnovAge Holding Corp. will post -0.12 EPS for the current year.

Insider Buying and Selling at InnovAge

In other news, COO Michael Anthony Scarbrough sold 33,000 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $4.90, for a total transaction of $161,700.00. Following the completion of the sale, the chief operating officer owned 119,617 shares in the company, valued at approximately $586,123.30. The trade was a 21.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

About InnovAge

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.