InnovAge Holding Corp. $INNV Shares Acquired by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in InnovAge Holding Corp. by 4.4%, owning approximately 5.26 million shares, valued at $15.68 million.
• Other hedge funds also boosted their investments in InnovAge, with Barclays PLC increasing its holdings by 13.6% and Bank of America adding 42.4% to its position.
• As of the latest reports, InnovAge stock is trading at $3.74, showing a twelve-month range between a low of $2.60 and a high of $6.69.

T. Rowe Price Investment Management Inc. raised its position in shares of InnovAge Holding Corp. (NASDAQ:INNV - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,259,843 shares of the company's stock after buying an additional 222,155 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.90% of InnovAge worth $15,675,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of InnovAge by 13.6% in the 4th quarter. Barclays PLC now owns 29,099 shares of the company's stock valued at $115,000 after purchasing an additional 3,485 shares during the last quarter. Jane Street Group LLC raised its holdings in InnovAge by 230.6% during the 4th quarter. Jane Street Group LLC now owns 39,398 shares of the company's stock valued at $155,000 after buying an additional 27,481 shares during the period. Squarepoint Ops LLC purchased a new stake in InnovAge during the 4th quarter valued at $68,000. BNP Paribas Financial Markets bought a new stake in InnovAge in the fourth quarter worth $123,000. Finally, Northern Trust Corp boosted its stake in InnovAge by 4.7% during the fourth quarter. Northern Trust Corp now owns 330,099 shares of the company's stock worth $1,297,000 after buying an additional 14,900 shares during the period. Institutional investors own 12.26% of the company's stock.

InnovAge Stock Performance

NASDAQ INNV remained flat at $3.83 during trading on Friday. 9,918 shares of the company's stock traded hands, compared to its average volume of 19,811. InnovAge Holding Corp. has a twelve month low of $2.60 and a twelve month high of $6.69. The firm's 50 day moving average price is $3.81 and its 200 day moving average price is $3.53. The stock has a market cap of $517.09 million, a PE ratio of -16.65 and a beta of 0.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.78 and a quick ratio of 0.78.

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.