SG Americas Securities LLC Purchases New Shares in InnovAge Holding Corp. (NASDAQ:INNV)

SG Americas Securities LLC purchased a new stake in shares of InnovAge Holding Corp. (NASDAQ:INNV) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 10,927 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position 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 worth $993,000 after buying an additional 6,153 shares during the last quarter. State Street Corp boosted its stake in InnovAge by 1.2% during the 3rd quarter. State Street Corp now owns 344,905 shares of the company’s stock valued at $2,069,000 after purchasing an additional 4,218 shares in the last quarter. Barclays PLC boosted its stake in InnovAge by 289.0% during the 3rd quarter. Barclays PLC now owns 25,614 shares of the company’s stock valued at $154,000 after purchasing an additional 19,029 shares in the last quarter. Geode Capital Management LLC boosted its stake in InnovAge by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 527,955 shares of the company’s stock valued at $3,168,000 after purchasing an additional 27,304 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of InnovAge by 191.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,687 shares of the company’s stock valued at $148,000 after acquiring an additional 16,217 shares during the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

InnovAge Trading Down 2.0 %

Shares of NASDAQ:INNV opened at $3.39 on Friday. The company has a market cap of $458.46 million, a P/E ratio of -17.84 and a beta of 0.37. The stock’s 50-day moving average is $3.84 and its 200-day moving average is $5.10. InnovAge Holding Corp. has a 52-week low of $3.12 and a 52-week high of $6.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.16.

InnovAge (NASDAQ:INNV) last announced its quarterly earnings results on Tuesday, February 4th. The company reported ($0.10) EPS for the quarter. InnovAge had a negative return on equity of 9.45% and a negative net margin of 3.19%. Equities research analysts predict that InnovAge Holding Corp. will post -0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 target price on shares of InnovAge in a report on Tuesday, December 17th.

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.