InnovAge Holding Corp. (NASDAQ:INNV) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its position in InnovAge Holding Corp. (NASDAQ:INNV) by 52.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,917 shares of the company’s stock after selling 13,069 shares during the period. Jane Street Group LLC’s holdings in InnovAge were worth $72,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Rhumbline Advisers lifted its stake in InnovAge by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 27,503 shares of the company’s stock valued at $136,000 after buying an additional 1,793 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in InnovAge by 27.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,322 shares of the company’s stock valued at $289,000 after purchasing an additional 12,448 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of InnovAge by 3.1% during the second quarter. Renaissance Technologies LLC now owns 136,400 shares of the company’s stock valued at $677,000 after acquiring an additional 4,100 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of InnovAge by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 165,531 shares of the company’s stock valued at $993,000 after acquiring an additional 6,153 shares in the last quarter. Finally, State Street Corp grew its stake in shares of InnovAge by 1.2% during the third quarter. State Street Corp now owns 344,905 shares of the company’s stock valued at $2,069,000 after acquiring an additional 4,218 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on INNV shares. KeyCorp began coverage on shares of InnovAge in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $5.00 price target on shares of InnovAge in a research report on Tuesday, December 17th.

InnovAge Price Performance

INNV opened at $3.77 on Thursday. The stock has a market cap of $510.67 million, a price-to-earnings ratio of -31.42 and a beta of 0.37. InnovAge Holding Corp. has a 1 year low of $3.49 and a 1 year high of $6.69. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $4.50 and a 200 day moving average price of $5.41.

InnovAge (NASDAQ:INNV) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). InnovAge had a negative return on equity of 5.68% and a negative net margin of 2.03%. The firm had revenue of $205.14 million during the quarter, compared to analysts’ expectations of $203.35 million. During the same quarter last year, the firm earned ($0.08) earnings per share. Analysts forecast that InnovAge Holding Corp. will post -0.06 EPS 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.