Los Angeles Capital Management LLC Takes Position in InnovAge Holding Corp. $INNV

Los Angeles Capital Management LLC bought a new position in shares of InnovAge Holding Corp. (NASDAQ:INNV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 29,750 shares of the company’s stock, valued at approximately $110,000.

Several other institutional investors have also bought and sold shares of the stock. Bank of America Corp DE raised its stake in InnovAge by 42.4% during the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock worth $78,000 after acquiring an additional 5,936 shares in the last quarter. Welch Capital Partners LLC NY grew its holdings in shares of InnovAge by 8.4% in the 1st quarter. Welch Capital Partners LLC NY now owns 365,907 shares of the company’s stock worth $1,090,000 after purchasing an additional 28,349 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of InnovAge by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company’s stock worth $490,000 after purchasing an additional 4,535 shares in the last quarter. Nuveen LLC bought a new position in InnovAge during the 1st quarter valued at about $159,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in InnovAge by 4.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,259,843 shares of the company’s stock valued at $15,675,000 after buying an additional 222,155 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Insider Buying and Selling

In other InnovAge news, COO Michael Anthony Scarbrough sold 33,000 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $4.90, for a total transaction of $161,700.00. Following the completion of the sale, the chief operating officer directly owned 119,617 shares of the company’s stock, valued at approximately $586,123.30. The trade was a 21.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

InnovAge Stock Performance

INNV stock opened at $5.59 on Wednesday. The company has a 50 day moving average price of $5.07 and a 200 day moving average price of $4.27. InnovAge Holding Corp. has a fifty-two week low of $2.60 and a fifty-two week high of $6.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $758.45 million, a PE ratio of -43.00 and a beta of 0.59.

InnovAge (NASDAQ:INNV) last released its earnings results on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. The company had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $226.64 million. InnovAge had a negative return on equity of 7.02% and a negative net margin of 1.96%. InnovAge has set its FY 2026 guidance at EPS. Analysts forecast that InnovAge Holding Corp. will post -0.12 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on INNV shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of InnovAge in a report on Wednesday, October 8th. JPMorgan Chase & Co. initiated coverage on InnovAge in a report on Thursday, September 18th. They set an “underweight” rating and a $5.00 price target for the company. Finally, Wall Street Zen upgraded InnovAge to a “strong-buy” rating in a research report on Saturday, November 8th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, InnovAge has a consensus rating of “Sell” and a consensus price target of $5.00.

InnovAge 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.