InnovAge Holding Corp. (NASDAQ:INNV) Director Purchases $34,476.00 in Stock

InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report) Director Richard C. Zoretic bought 8,450 shares of the stock in a transaction on Friday, May 30th. The stock was purchased at an average cost of $4.08 per share, with a total value of $34,476.00. Following the purchase, the director now directly owns 68,494 shares of the company's stock, valued at approximately $279,455.52. This represents a 14.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

InnovAge Trading Up 3.8%

NASDAQ:INNV traded up $0.15 during trading hours on Tuesday, hitting $4.06. The stock had a trading volume of 31,573 shares, compared to its average volume of 52,768. InnovAge Holding Corp. has a one year low of $2.60 and a one year high of $6.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $548.15 million, a price-to-earnings ratio of -21.37 and a beta of 0.55. The business's 50 day moving average is $3.32 and its 200-day moving average is $3.65.

InnovAge (NASDAQ:INNV - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). InnovAge had a negative net margin of 3.19% and a negative return on equity of 9.45%. The firm had revenue of $218.14 million during the quarter, compared to the consensus estimate of $214.09 million. Sell-side analysts anticipate that InnovAge Holding Corp. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On InnovAge

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of InnovAge in the fourth quarter valued at approximately $43,000. Squarepoint Ops LLC acquired a new position in shares of InnovAge in the fourth quarter valued at approximately $68,000. Bank of America Corp DE boosted its holdings in shares of InnovAge by 42.4% in the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company's stock valued at $78,000 after buying an additional 5,936 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of InnovAge by 191.5% in the third quarter. JPMorgan Chase & Co. now owns 24,687 shares of the company's stock valued at $148,000 after buying an additional 16,217 shares during the period. Finally, Barclays PLC boosted its holdings in shares of InnovAge by 13.6% in the fourth quarter. Barclays PLC now owns 29,099 shares of the company's stock valued at $115,000 after buying an additional 3,485 shares during the period. Institutional investors own 12.26% of the company's stock.

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.