Renaissance Technologies LLC grew its stake in InnovAge Holding Corp. (NASDAQ:INNV – Free Report) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,400 shares of the company’s stock after acquiring an additional 4,100 shares during the quarter. Renaissance Technologies LLC owned 0.10% of InnovAge worth $677,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of INNV. Rhumbline Advisers increased its stake in InnovAge by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 27,503 shares of the company’s stock worth $136,000 after purchasing an additional 1,793 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of InnovAge by 27.1% in the second quarter. Bank of New York Mellon Corp now owns 58,322 shares of the company’s stock valued at $289,000 after buying an additional 12,448 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of InnovAge during the second quarter worth $496,000. Kent Lake Capital LLC raised its holdings in shares of InnovAge by 3.7% during the first quarter. Kent Lake Capital LLC now owns 1,750,000 shares of the company’s stock worth $7,770,000 after acquiring an additional 62,141 shares during the period. Finally, Vanguard Group Inc. lifted its position in InnovAge by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,842,764 shares of the company’s stock valued at $8,182,000 after acquiring an additional 13,193 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Nicole Damato sold 4,372 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.95, for a total transaction of $26,013.40. Following the completion of the sale, the insider now owns 240,795 shares in the company, valued at $1,432,730.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.
InnovAge Stock Up 1.7 %
InnovAge (NASDAQ:INNV – Get Free Report) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $199.40 million for the quarter, compared to analyst estimates of $190.19 million. InnovAge had a negative net margin of 2.79% and a negative return on equity of 7.43%. During the same period in the previous year, the business earned ($0.09) EPS. On average, sell-side analysts anticipate that InnovAge Holding Corp. will post -0.01 earnings per share 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.
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