59,252 Shares in InnovAge Holding Corp. $INNV Purchased by Man Group plc

Man Group plc bought a new position in shares of InnovAge Holding Corp. (NASDAQ:INNV) during the 2nd quarter, HoldingsChannel reports. The firm bought 59,252 shares of the company’s stock, valued at approximately $702,000.

A number of other institutional investors have also added to or reduced their stakes in INNV. Legal & General Group Plc purchased a new position in InnovAge during the 2nd quarter valued at about $25,000. Algert Global LLC lifted its position in shares of InnovAge by 844.1% in the 2nd quarter. Algert Global LLC now owns 630,520 shares of the company’s stock worth $7,472,000 after purchasing an additional 563,735 shares during the period. Welch Capital Partners LLC NY bought a new position in shares of InnovAge during the second quarter valued at approximately $1,616,000. Virtus Advisers LLC bought a new position in shares of InnovAge during the second quarter valued at approximately $207,000. Finally, BlackRock Inc. purchased a new position in InnovAge during the second quarter valued at approximately $17,652,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

InnovAge Stock Down 0.4%

Shares of InnovAge stock opened at $10.77 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.46 billion, a P/E ratio of -119.67 and a beta of 0.40. The firm’s 50 day moving average price is $11.24 and its 200-day moving average price is $9.27. InnovAge Holding Corp. has a 52-week low of $3.56 and a 52-week high of $12.64.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of InnovAge from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. KeyCorp upgraded InnovAge from a “sector weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Friday, August 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of InnovAge in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $10.00.

InnovAge Company Profile

InnovAge Holdings, Inc (NASDAQ:INNV) is a healthcare services company that specializes in caring for seniors through the Program of All-Inclusive Care for the Elderly (PACE). Designed for individuals who are eligible for both Medicare and Medicaid, the PACE model integrates medical care, social services and long-term care—delivered primarily in participants’ homes and community-based centers. InnovAge’s approach centers on interdisciplinary care teams that coordinate everything from primary and specialty medical services to nutritional counseling and recreational activities.

The company’s core offerings include comprehensive in-home assessments, physician and nursing services, physical and occupational therapy, prescription medication management, and transportation to medical appointments.