Man Group plc bought a new position in InnovAge Holding Corp. (NASDAQ:INNV – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 59,252 shares of the company’s stock, valued at approximately $702,000.
A number of other large investors have also recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in InnovAge by 15.1% during the 4th quarter. Deutsche Bank AG now owns 12,775 shares of the company’s stock valued at $66,000 after purchasing an additional 1,679 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of InnovAge during the second quarter valued at approximately $25,000. Kathmere Capital Management LLC boosted its position in shares of InnovAge by 17.0% during the first quarter. Kathmere Capital Management LLC now owns 15,534 shares of the company’s stock valued at $125,000 after buying an additional 2,260 shares during the period. Barclays PLC grew its stake in shares of InnovAge by 10.6% during the fourth quarter. Barclays PLC now owns 31,591 shares of the company’s stock valued at $164,000 after buying an additional 3,040 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of InnovAge by 13.9% during the fourth quarter. AQR Capital Management LLC now owns 25,695 shares of the company’s stock valued at $133,000 after buying an additional 3,135 shares during the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on INNV shares. Wall Street Zen lowered InnovAge from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. KeyCorp raised InnovAge from a “sector weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a research report on Friday, August 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of InnovAge in a research note on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $10.00.
InnovAge Stock Performance
InnovAge stock opened at $10.77 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $1.46 billion, a PE ratio of -119.67 and a beta of 0.40. The company has a 50 day moving average price of $11.24 and a 200-day moving average price of $9.27. InnovAge Holding Corp. has a fifty-two week low of $3.56 and a fifty-two week high of $12.64.
About InnovAge
InnovAge Holdings, Inc (NASDAQ:INNV) is a healthcare services company that specializes in caring for seniors through the Program of All-Inclusive Care for the Elderly (PACE). Designed for individuals who are eligible for both Medicare and Medicaid, the PACE model integrates medical care, social services and long-term care—delivered primarily in participants’ homes and community-based centers. InnovAge’s approach centers on interdisciplinary care teams that coordinate everything from primary and specialty medical services to nutritional counseling and recreational activities.
The company’s core offerings include comprehensive in-home assessments, physician and nursing services, physical and occupational therapy, prescription medication management, and transportation to medical appointments.
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