InnovAge Holding Corp. (NASDAQ:INNV) Stake Raised by Barclays PLC

Barclays PLC raised its holdings in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 289.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 25,614 shares of the company’s stock after purchasing an additional 19,029 shares during the period. Barclays PLC’s holdings in InnovAge were worth $154,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in INNV. Rhumbline Advisers grew its position in InnovAge by 7.0% during the second quarter. Rhumbline Advisers now owns 27,503 shares of the company’s stock valued at $136,000 after purchasing an additional 1,793 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of InnovAge by 27.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,322 shares of the company’s stock valued at $289,000 after acquiring an additional 12,448 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of InnovAge by 3.1% in the second quarter. Renaissance Technologies LLC now owns 136,400 shares of the company’s stock worth $677,000 after acquiring an additional 4,100 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of InnovAge by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 165,531 shares of the company’s stock worth $993,000 after acquiring an additional 6,153 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of InnovAge by 1.2% during the third quarter. State Street Corp now owns 344,905 shares of the company’s stock worth $2,069,000 after acquiring an additional 4,218 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

InnovAge Stock Down 3.1 %

INNV stock opened at $3.69 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. The firm has a market cap of $499.83 million, a PE ratio of -30.75 and a beta of 0.37. InnovAge Holding Corp. has a 1 year low of $3.52 and a 1 year high of $6.69. The company has a fifty day simple moving average of $4.77 and a 200 day simple moving average of $5.47.

InnovAge (NASDAQ:INNV) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $205.14 million during the quarter, compared to analysts’ expectations of $203.35 million. InnovAge had a negative return on equity of 5.68% and a negative net margin of 2.03%. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Sell-side analysts anticipate that InnovAge Holding Corp. will post -0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INNV. JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 target price on shares of InnovAge in a research note on Tuesday, December 17th. KeyCorp initiated coverage on InnovAge in a research note on Friday, October 11th. They issued a “sector weight” rating for the company.

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.