InnovAge (NASDAQ:INNV) Stock Price Down 3.6% - Here's Why

Key Points

• InnovAge's stock price fell by 3.6% to $4.46 amid significant trading volume decline, with just 3,300 shares exchanged compared to the average of 45,175.
• The company reported positive quarterly earnings with an EPS of ($0.01), exceeding expectations, and generated revenue of $221.42 million, slightly above analyst estimates.
• Institutional investors have been actively increasing their stakes in InnovAge, with notable investments from firms like Barclays PLC and Jane Street Group, highlighting a growing interest in the company.

InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report)'s share price was down 3.6% during mid-day trading on Friday . The company traded as low as $4.36 and last traded at $4.46. Approximately 3,300 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 45,175 shares. The stock had previously closed at $4.62.

InnovAge Stock Performance

The stock's 50-day moving average price is $3.84 and its 200-day moving average price is $3.60. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $719.57 million, a P/E ratio of -22.54 and a beta of 0.52.

InnovAge (NASDAQ:INNV - Get Free Report) last posted its quarterly earnings results on Tuesday, September 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. InnovAge had a negative net margin of 3.55% and a negative return on equity of 12.02%. The company had revenue of $221.42 million for the quarter, compared to the consensus estimate of $219.80 million. InnovAge has set its FY 2026 guidance at EPS. As a group, equities analysts expect that InnovAge Holding Corp. will post -0.12 EPS for the current year.

Institutional Trading of InnovAge

A number of large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of InnovAge by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company's stock worth $490,000 after acquiring an additional 4,535 shares during the period. Bank of America Corp DE increased its holdings in shares of InnovAge by 42.4% in the 4th quarter. Bank of America Corp DE now owns 19,945 shares of the company's stock worth $78,000 after acquiring an additional 5,936 shares during the period. Jane Street Group LLC increased its holdings in shares of InnovAge by 18.9% in the 1st quarter. Jane Street Group LLC now owns 46,827 shares of the company's stock worth $140,000 after acquiring an additional 7,429 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of InnovAge in the 2nd quarter worth about $32,000. Finally, Topline Capital Management LLC increased its holdings in shares of InnovAge by 19.4% in the 1st quarter. Topline Capital Management LLC now owns 70,143 shares of the company's stock worth $209,000 after acquiring an additional 11,403 shares during the period. Institutional investors and hedge funds 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.