Renaissance Technologies LLC Has $677,000 Position in InnovAge Holding Corp. (NASDAQ:INNV)

Renaissance Technologies LLC grew its position in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 136,400 shares of the company’s stock after purchasing an additional 4,100 shares during the quarter. Renaissance Technologies LLC’s holdings in InnovAge were worth $677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in INNV. Vanguard Group Inc. boosted its position in InnovAge by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,842,764 shares of the company’s stock worth $8,182,000 after buying an additional 13,193 shares during the period. Kent Lake Capital LLC raised its stake in shares of InnovAge by 3.7% during the first quarter. Kent Lake Capital LLC now owns 1,750,000 shares of the company’s stock valued at $7,770,000 after acquiring an additional 62,141 shares during the last quarter. Accordant Advisory Group Inc bought a new position in shares of InnovAge during the second quarter valued at $496,000. Bank of New York Mellon Corp lifted its holdings in shares of InnovAge by 27.1% during the second quarter. Bank of New York Mellon Corp now owns 58,322 shares of the company’s stock worth $289,000 after purchasing an additional 12,448 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of InnovAge by 7.0% in the second quarter. Rhumbline Advisers now owns 27,503 shares of the company’s stock worth $136,000 after purchasing an additional 1,793 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Nicole Damato sold 4,372 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.95, for a total transaction of $26,013.40. Following the transaction, the insider now directly owns 240,795 shares of the company’s stock, valued at approximately $1,432,730.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

InnovAge Stock Up 1.7 %

Shares of NASDAQ:INNV opened at $5.44 on Wednesday. The business has a fifty day simple moving average of $6.00 and a 200 day simple moving average of $5.13. InnovAge Holding Corp. has a 12-month low of $3.52 and a 12-month high of $6.71. The firm has a market cap of $739.77 million, a P/E ratio of -22.67 and a beta of 0.39. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.27.

InnovAge (NASDAQ:INNV) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $199.40 million for the quarter, compared to analyst estimates of $190.19 million. InnovAge had a negative net margin of 2.79% and a negative return on equity of 7.43%. During the same period in the prior year, the firm posted ($0.09) EPS. Analysts predict that InnovAge Holding Corp. will post -0.01 earnings per share for the current year.

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.