InnovAge Holding Corp. (NASDAQ:INNV) COO Michael Anthony Scarbrough Purchases 10,000 Shares of Stock

InnovAge Holding Corp. (NASDAQ:INNV) COO Michael Anthony Scarbrough acquired 10,000 shares of InnovAge stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average price of $3.55 per share, for a total transaction of $35,500.00. Following the transaction, the chief operating officer now directly owns 10,000 shares in the company, valued at $35,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Michael Anthony Scarbrough also recently made the following trade(s):

• On Monday, May 12th, Michael Anthony Scarbrough purchased 13,000 shares of InnovAge stock. The stock was bought at an average price of $3.73 per share, for a total transaction of $48,490.00.

InnovAge Trading Up 4.2%

NASDAQ INNV opened at $3.96 on Wednesday. The business’s 50-day moving average price is $3.07 and its two-hundred day moving average price is $3.83. InnovAge Holding Corp. has a 12 month low of $2.60 and a 12 month high of $6.69. The firm has a market capitalization of $534.65 million, a PE ratio of -20.84 and a beta of 0.40. 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) last released its quarterly 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). 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 the consensus estimate of $214.09 million. On average, analysts expect that InnovAge Holding Corp. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On InnovAge

Institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of InnovAge by 289.0% in the 3rd quarter. Barclays PLC now owns 25,614 shares of the company’s stock valued at $154,000 after purchasing an additional 19,029 shares during the period. JPMorgan Chase & Co. raised its stake in InnovAge by 191.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,687 shares of the company’s stock worth $148,000 after buying an additional 16,217 shares during the period. SG Americas Securities LLC bought a new stake in InnovAge during the 4th quarter worth approximately $43,000. Renaissance Technologies LLC increased its holdings in InnovAge by 14.5% during the 4th quarter. Renaissance Technologies LLC now owns 162,000 shares of the company’s stock worth $637,000 after purchasing an additional 20,500 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in InnovAge by 5.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,037,688 shares of the company’s stock worth $19,799,000 after purchasing an additional 281,551 shares in the last quarter. 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.