State Street Corp Has $2.07 Million Stock Holdings in InnovAge Holding Corp. (NASDAQ:INNV)

State Street Corp grew its position in InnovAge Holding Corp. (NASDAQ:INNV) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 344,905 shares of the company’s stock after buying an additional 4,218 shares during the period. State Street Corp owned approximately 0.25% of InnovAge worth $2,069,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rhumbline Advisers lifted its holdings in InnovAge by 7.0% during the second quarter. Rhumbline Advisers now owns 27,503 shares of the company’s stock worth $136,000 after acquiring an additional 1,793 shares in the last quarter. Renaissance Technologies LLC grew its position 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 purchasing an additional 4,100 shares during the period. Charles Schwab Investment Management Inc. increased its stake in InnovAge by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,531 shares of the company’s stock worth $993,000 after purchasing an additional 6,153 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in InnovAge by 27.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,322 shares of the company’s stock worth $289,000 after buying an additional 12,448 shares during the period. Institutional investors own 12.26% of the company’s stock.

InnovAge Trading Down 0.5 %

NASDAQ:INNV opened at $3.93 on Thursday. The company has a market cap of $532.34 million, a P/E ratio of -32.75 and a beta of 0.31. InnovAge Holding Corp. has a twelve month low of $3.52 and a twelve month high of $6.69. The business has a 50 day moving average price of $4.93 and a two-hundred day moving average price of $5.47. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.27.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on INNV shares. KeyCorp assumed coverage on shares of InnovAge in a 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 target price on shares of InnovAge in a report on Tuesday, December 17th.

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.