InnovAge Holding Corp. (NASDAQ:INNV) Director Acquires $57,630.60 in Stock

InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report) Director Richard C. Zoretic bought 14,265 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $4.04 per share, for a total transaction of $57,630.60. Following the transaction, the director now directly owns 60,044 shares of the company's stock, valued at approximately $242,577.76. This represents a 31.16% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

InnovAge Stock Performance

Shares of INNV traded up $0.15 during midday trading on Tuesday, reaching $4.06. 31,573 shares of the stock were exchanged, compared to its average volume of 52,768. The business's 50-day moving average price is $3.32 and its 200 day moving average price is $3.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. InnovAge Holding Corp. has a twelve month low of $2.60 and a twelve month high of $6.69. The company has a market capitalization of $548.15 million, a price-to-earnings ratio of -21.37 and a beta of 0.55.

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

Hedge Funds Weigh In On InnovAge

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of InnovAge during the fourth quarter worth about $43,000. Squarepoint Ops LLC purchased a new position in shares of InnovAge during the fourth quarter worth about $68,000. Bank of America Corp DE grew its holdings 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 during the last quarter. Barclays PLC grew its holdings in shares of InnovAge by 13.6% during the fourth quarter. Barclays PLC now owns 29,099 shares of the company's stock worth $115,000 after buying an additional 3,485 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of InnovAge during the fourth quarter worth about $123,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

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.