Barclays PLC Has $154,000 Holdings in InnovAge Holding Corp. (NASDAQ:INNV)

Barclays PLC boosted its holdings in shares of InnovAge Holding Corp. (NASDAQ:INNV) by 289.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,614 shares of the company’s stock after acquiring an additional 19,029 shares during the quarter. Barclays PLC’s holdings in InnovAge were worth $154,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of InnovAge by 1.2% during the 3rd quarter. State Street Corp now owns 344,905 shares of the company’s stock worth $2,069,000 after purchasing an additional 4,218 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of InnovAge by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 527,955 shares of the company’s stock valued at $3,168,000 after acquiring an additional 27,304 shares in the last quarter. Rhumbline Advisers raised its stake in shares of 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 acquiring an additional 1,793 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of InnovAge by 3.1% in the 2nd 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. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of InnovAge by 3.9% in the 3rd 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. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INNV has been the topic of several recent analyst reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $5.00 price target on shares of InnovAge in a research report on Tuesday, December 17th. KeyCorp initiated coverage on InnovAge in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock.

InnovAge Price Performance

Shares of INNV stock opened at $3.70 on Thursday. The stock’s fifty day moving average is $4.28 and its 200-day moving average is $5.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $501.20 million, a PE ratio of -30.83 and a beta of 0.37. InnovAge Holding Corp. has a 52 week low of $3.49 and a 52 week high of $6.69.

InnovAge (NASDAQ:INNV) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $205.14 million for the quarter, compared to analyst estimates of $203.35 million. InnovAge had a negative return on equity of 5.68% and a negative net margin of 2.03%. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Equities research analysts expect that InnovAge Holding Corp. will post -0.06 EPS for the current fiscal year.

About InnovAge

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.