InnovAge Holding Corp. (NASDAQ:INNV) Shares Bought by Kent Lake Capital LLC

Kent Lake Capital LLC grew its position in shares of InnovAge Holding Corp. (NASDAQ:INNVFree Report) by 20.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,402,323 shares of the company’s stock after purchasing an additional 238,551 shares during the quarter. InnovAge accounts for 3.2% of Kent Lake Capital LLC’s portfolio, making the stock its 13th largest position. Kent Lake Capital LLC owned about 1.03% of InnovAge worth $8,400,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of InnovAge by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 149,277 shares of the company’s stock worth $894,000 after acquiring an additional 7,387 shares during the last quarter. Cambiar Investors LLC raised its position in InnovAge by 10.5% during the third quarter. Cambiar Investors LLC now owns 303,557 shares of the company’s stock valued at $1,818,000 after buying an additional 28,890 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in InnovAge by 386.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,078 shares of the company’s stock valued at $30,000 after buying an additional 4,034 shares during the period. 12.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group decreased their price target on InnovAge from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th.

Check Out Our Latest Analysis on InnovAge

InnovAge Stock Performance

InnovAge stock remained flat at $4.87 during trading hours on Monday. The company’s stock had a trading volume of 9,682 shares, compared to its average volume of 22,839. The stock’s fifty day simple moving average is $5.56. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26. The company has a market cap of $661.83 million, a PE ratio of -19.48 and a beta of 0.16. InnovAge Holding Corp. has a 12-month low of $4.72 and a 12-month high of $8.15.

InnovAge (NASDAQ:INNVGet Free Report) last released its quarterly earnings results on Monday, February 5th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). InnovAge had a negative return on equity of 10.53% and a negative net margin of 4.38%. The firm had revenue of $188.90 million during the quarter, compared to analysts’ expectations of $181.51 million. During the same period last year, the firm posted ($0.07) EPS. On average, equities analysts anticipate that InnovAge Holding Corp. will post -0.13 earnings per share for the current fiscal year.

InnovAge Profile

(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 their 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.

See Also

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Institutional Ownership by Quarter for InnovAge (NASDAQ:INNV)

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