InnovAge Holding Corp. (NASDAQ:INNV) Director Buys $81,200.00 in Stock

InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report) Director Richard C. Zoretic acquired 20,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were purchased at an average cost of $4.06 per share, for a total transaction of $81,200.00. Following the completion of the transaction, the director now directly owns 45,779 shares in the company, valued at $185,862.74. The trade was a 77.58% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

InnovAge Stock Down 4.4%

INNV traded down $0.18 during trading on Monday, hitting $3.91. 46,277 shares of the company's stock traded hands, compared to its average volume of 52,707. 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 Holding Corp. has a 12-month low of $2.60 and a 12-month high of $6.69. The stock has a market capitalization of $527.90 million, a price-to-earnings ratio of -20.58 and a beta of 0.40. The company's 50 day simple moving average is $3.30 and its two-hundred day simple moving average is $3.65.

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). The company had revenue of $218.14 million during the quarter, compared to the consensus estimate of $214.09 million. InnovAge had a negative return on equity of 9.45% and a negative net margin of 3.19%. Analysts predict that InnovAge Holding Corp. will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On InnovAge

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in shares of InnovAge during the 4th quarter valued at about $43,000. Squarepoint Ops LLC bought a new stake in InnovAge in the fourth quarter worth $68,000. 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 buying an additional 5,936 shares during the last quarter. Barclays PLC raised its position in InnovAge by 13.6% during the fourth quarter. Barclays PLC now owns 29,099 shares of the company's stock valued at $115,000 after purchasing an additional 3,485 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in InnovAge during the 4th quarter valued at $123,000. 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.