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 stake in InnovAge Holding Corp. (NASDAQ:INNV - Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of INNV. Nuveen LLC acquired a new stake in InnovAge during the 1st quarter worth approximately $159,000. Charles Schwab Investment Management Inc. grew its position in shares of InnovAge by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company's stock worth $490,000 after buying an additional 4,535 shares in the last quarter. Welch Capital Partners LLC NY grew its position in shares of InnovAge by 8.4% during the first quarter. Welch Capital Partners LLC NY now owns 365,907 shares of the company's stock worth $1,090,000 after buying an additional 28,349 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of InnovAge during the fourth quarter worth about $68,000. Finally, Bank of America Corp DE grew its position in shares of InnovAge by 42.4% during the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company's stock worth $78,000 after buying an additional 5,936 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company's stock.

InnovAge Price Performance

Shares of InnovAge stock remained flat at $3.83 on Friday. The stock had a trading volume of 9,918 shares, compared to its average volume of 19,811. InnovAge Holding Corp. has a 1-year low of $2.60 and a 1-year high of $6.69. The company has a market capitalization of $517.09 million, a P/E ratio of -16.65 and a beta of 0.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock's fifty day moving average is $3.81 and its 200 day moving average is $3.53.

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 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.