InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report) Director Richard C. Zoretic bought 20,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were purchased at an average cost of $4.06 per share, with a total value of $81,200.00. Following the completion of the transaction, the director now owns 45,779 shares in the company, valued at $185,862.74. This represents a 77.58% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
InnovAge Stock Up 3.8%
Shares of NASDAQ:INNV traded up $0.15 on Tuesday, reaching $4.06. The company had a trading volume of 31,573 shares, compared to its average volume of 52,768. InnovAge Holding Corp. has a 52-week low of $2.60 and a 52-week high of $6.69. The firm's 50 day simple moving average is $3.32 and its 200-day simple moving average is $3.65. The firm has a market capitalization of $548.15 million, a PE ratio of -21.37 and a beta of 0.55. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27.
InnovAge (NASDAQ:INNV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $218.14 million during the quarter, compared to analysts' expectations of $214.09 million. As a group, analysts expect that InnovAge Holding Corp. will post -0.12 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in INNV. SG Americas Securities LLC purchased a new position in shares of InnovAge in the 4th quarter valued at $43,000. Squarepoint Ops LLC purchased a new position in InnovAge during the 4th quarter worth $68,000. Bank of America Corp DE grew its stake in InnovAge by 42.4% during the 4th 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 stake in InnovAge by 13.6% during the 4th 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 InnovAge during the 4th quarter worth $123,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.
About InnovAge
(
Get Free Report)
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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