InnovAge Holding Corp. (NASDAQ:INNV – Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 32,020 shares traded hands during mid-day trading, an increase of 17% from the previous session’s volume of 27,347 shares.The stock last traded at $4.69 and had previously closed at $4.55.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. cut their price objective on shares of InnovAge from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th.
Check Out Our Latest Stock Report on INNV
InnovAge Trading Up 4.4 %
InnovAge (NASDAQ:INNV – Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). InnovAge had a negative net margin of 4.16% and a negative return on equity of 10.51%. The business had revenue of $193.07 million during the quarter, compared to analyst estimates of $188.64 million. Equities analysts expect that InnovAge Holding Corp. will post -0.17 earnings per share for the current year.
Institutional Investors Weigh In On InnovAge
A hedge fund recently raised its stake in InnovAge stock. Kent Lake Capital LLC increased its position in InnovAge Holding Corp. (NASDAQ:INNV – Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,750,000 shares of the company’s stock after purchasing an additional 62,141 shares during the quarter. InnovAge accounts for 3.4% of Kent Lake Capital LLC’s portfolio, making the stock its 10th largest position. Kent Lake Capital LLC owned 1.29% of InnovAge worth $7,770,000 at the end of the most recent quarter. Institutional investors own 12.26% of the company’s stock.
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 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.
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