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 stock price traded down 3.6% during trading on Friday . The stock traded as low as $4.36 and last traded at $4.46. 3,300 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 45,175 shares. The stock had previously closed at $4.62.

InnovAge Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.78. The company has a market capitalization of $601.56 million, a PE ratio of -19.30 and a beta of 0.52. The firm's fifty day simple moving average is $3.81 and its 200 day simple moving average is $3.57.

InnovAge (NASDAQ:INNV - Get Free Report) last posted its quarterly earnings results on Tuesday, September 9th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate 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 analyst estimates of $219.80 million. InnovAge has set its FY 2026 guidance at EPS. On average, research analysts predict that InnovAge Holding Corp. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On InnovAge

Hedge funds have recently modified their holdings of the company. Barclays PLC boosted its stake in shares of InnovAge by 13.6% during the 4th quarter. Barclays PLC now owns 29,099 shares of the company's stock worth $115,000 after acquiring an additional 3,485 shares in the last quarter. Jane Street Group LLC raised its position in shares of InnovAge by 230.6% during the 4th quarter. Jane Street Group LLC now owns 39,398 shares of the company's stock worth $155,000 after purchasing an additional 27,481 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of InnovAge by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company's stock worth $490,000 after purchasing an additional 4,535 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of InnovAge during the 4th quarter worth about $68,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of InnovAge during the 4th quarter worth about $123,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

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.

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