InnovAge Holding Corp. (NASDAQ:INNV – Get Free Report) major shareholder Aggregator Lp Ignite sold 10,000,000 shares of the business’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $9.25, for a total transaction of $92,500,000.00. Following the completion of the transaction, the insider owned 102,576,555 shares in the company, valued at $948,833,133.75. This represents a 8.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
InnovAge Stock Down 1.2%
Shares of NASDAQ:INNV traded down $0.11 during trading on Monday, hitting $8.89. The company’s stock had a trading volume of 725,506 shares, compared to its average volume of 349,382. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. InnovAge Holding Corp. has a fifty-two week low of $3.93 and a fifty-two week high of $12.64. The stock’s 50-day moving average price is $10.85 and its two-hundred day moving average price is $9.44. The company has a market capitalization of $1.21 billion, a PE ratio of -444.50 and a beta of 0.40.
InnovAge (NASDAQ:INNV – Get Free Report) last announced its earnings results on Tuesday, September 8th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $261.95 million during the quarter, compared to analyst estimates of $238.33 million. InnovAge had a negative net margin of 0.26% and a negative return on equity of 1.03%. As a group, sell-side analysts expect that InnovAge Holding Corp. will post 0.43 EPS for the current year.
Institutional Trading of InnovAge
Analyst Upgrades and Downgrades
INNV has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of InnovAge in a research report on Thursday, August 13th. KeyCorp boosted their target price on shares of InnovAge from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, September 9th. Finally, Wall Street Zen cut shares of InnovAge from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 20th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, InnovAge presently has an average rating of “Reduce” and a consensus target price of $10.50.
Check Out Our Latest Report on InnovAge
InnovAge Company Profile
InnovAge is a healthcare services company that provides comprehensive care for older adults through the Program of All-Inclusive Care for the Elderly (PACE). Its programs are designed for individuals who are eligible for nursing-home-level care but can continue living in their homes and communities with coordinated medical and support services.
The company’s services include primary and specialty medical care, behavioral health, pharmacy services, rehabilitation, dentistry, social services, nutrition support, transportation and in-home care.
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