Cambiar Investors LLC Sells 23,575 Shares of InnovAge Holding Corp. (NASDAQ:INNV)

Cambiar Investors LLC reduced its stake in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 275,369 shares of the company’s stock after selling 23,575 shares during the quarter. Cambiar Investors LLC’s holdings in InnovAge were worth $1,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INNV. Barclays PLC lifted its stake in InnovAge by 289.0% during the third quarter. Barclays PLC now owns 25,614 shares of the company’s stock worth $154,000 after purchasing an additional 19,029 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of InnovAge by 191.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,687 shares of the company’s stock valued at $148,000 after purchasing an additional 16,217 shares during the last quarter. State Street Corp raised its holdings in shares of InnovAge by 1.2% during the 3rd quarter. State Street Corp now owns 344,905 shares of the company’s stock valued at $2,069,000 after buying an additional 4,218 shares in the last quarter. Geode Capital Management LLC lifted its position in InnovAge by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 527,955 shares of the company’s stock worth $3,168,000 after buying an additional 27,304 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 buying an additional 6,153 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reissued an “underweight” rating and set a $5.00 price target on shares of InnovAge in a research note on Tuesday, December 17th.

InnovAge Stock Performance

InnovAge stock opened at $3.36 on Wednesday. The firm has a fifty day simple moving average of $3.92 and a two-hundred day simple moving average of $5.14. InnovAge Holding Corp. has a twelve month low of $3.12 and a twelve month high of $6.69. The company has a market capitalization of $454.42 million, a PE ratio of -17.68 and a beta of 0.37. The company has a quick ratio of 1.21, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

InnovAge (NASDAQ:INNV) last released its earnings results on Tuesday, February 4th. The company reported ($0.10) earnings per share for the quarter. InnovAge had a negative net margin of 3.19% and a negative return on equity of 9.45%. Research analysts expect that InnovAge Holding Corp. will post -0.09 EPS for the current year.

InnovAge 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.