T. Rowe Price Investment Management Inc. Grows Position in InnovAge Holding Corp. (NASDAQ:INNV)

T. Rowe Price Investment Management Inc. increased its holdings in shares of InnovAge Holding Corp. (NASDAQ:INNV - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,037,688 shares of the company's stock after acquiring an additional 281,551 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.72% of InnovAge worth $19,799,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of INNV. SG Americas Securities LLC acquired a new stake in shares of InnovAge in the 4th quarter valued at approximately $43,000. Barclays PLC boosted its holdings in InnovAge by 13.6% in the fourth quarter. Barclays PLC now owns 29,099 shares of the company's stock valued at $115,000 after acquiring an additional 3,485 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in InnovAge by 191.5% in the third quarter. JPMorgan Chase & Co. now owns 24,687 shares of the company's stock valued at $148,000 after buying an additional 16,217 shares during the period. Renaissance Technologies LLC increased its stake in InnovAge by 14.5% in the fourth quarter. Renaissance Technologies LLC now owns 162,000 shares of the company's stock valued at $637,000 after purchasing an additional 20,500 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of InnovAge by 1.2% during the third quarter. State Street Corp now owns 344,905 shares of the company's stock valued at $2,069,000 after purchasing an additional 4,218 shares during the period. Institutional investors and hedge funds own 12.26% of the company's stock.

InnovAge Stock Up 4.2 %

Shares of INNV traded up $0.12 during trading hours on Friday, hitting $3.10. The stock had a trading volume of 4,618 shares, compared to its average volume of 52,317. The firm has a 50 day simple moving average of $3.06 and a 200-day simple moving average of $3.98. InnovAge Holding Corp. has a 1-year low of $2.60 and a 1-year high of $6.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $419.80 million, a P/E ratio of -16.45 and a beta of 0.41.

InnovAge (NASDAQ:INNV - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported ($0.10) earnings per share for the quarter. InnovAge had a negative net margin of 3.19% and a negative return on equity of 9.45%. Sell-side analysts predict that InnovAge Holding Corp. will post -0.12 EPS for the current fiscal year.

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.