Michael Anthony Scarbrough Acquires 13,000 Shares of InnovAge Holding Corp. (NASDAQ:INNV) Stock

InnovAge Holding Corp. (NASDAQ:INNV) COO Michael Anthony Scarbrough purchased 13,000 shares of the stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $3.73 per share, for a total transaction of $48,490.00. Following the completion of the transaction, the chief operating officer now owns 23,000 shares of the company’s stock, valued at $85,790. The trade was a 130.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Anthony Scarbrough also recently made the following trade(s):

• On Friday, May 9th, Michael Anthony Scarbrough bought 10,000 shares of InnovAge stock. The stock was bought at an average price of $3.55 per share, with a total value of $35,500.00.

InnovAge Stock Up 3.5%

Shares of INNV opened at $4.10 on Thursday. The stock has a market cap of $553.55 million, a price-to-earnings ratio of -21.58 and a beta of 0.40. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27. InnovAge Holding Corp. has a 12 month low of $2.60 and a 12 month high of $6.69. The company has a 50-day moving average price of $3.09 and a two-hundred day moving average price of $3.83.

InnovAge (NASDAQ:INNV) last posted its earnings results on Tuesday, May 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $218.14 million during the quarter, compared to the consensus estimate of $214.09 million. InnovAge had a negative net margin of 3.19% and a negative return on equity of 9.45%. Equities analysts predict that InnovAge Holding Corp. will post -0.12 EPS for the current fiscal year.

Institutional Trading of InnovAge

Hedge funds and other institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its holdings in InnovAge by 5.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,037,688 shares of the company’s stock worth $19,799,000 after acquiring an additional 281,551 shares during the period. Topline Capital Management LLC bought a new stake in InnovAge in the 4th quarter valued at $231,000. Nuveen LLC bought a new stake in InnovAge during the 1st quarter worth about $159,000. JPMorgan Chase & Co. lifted its position in InnovAge by 143.6% during the 4th quarter. JPMorgan Chase & Co. now owns 60,143 shares of the company’s stock worth $236,000 after buying an additional 35,456 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in InnovAge during the 4th quarter worth about $123,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

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.