Michael Anthony Scarbrough Sells 33,000 Shares of InnovAge (NASDAQ:INNV) Stock

InnovAge Holding Corp. (NASDAQ:INNV) COO Michael Anthony Scarbrough sold 33,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $4.90, for a total transaction of $161,700.00. Following the sale, the chief operating officer directly owned 119,617 shares in the company, valued at approximately $586,123.30. The trade was a 21.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

InnovAge Stock Performance

Shares of INNV traded up $0.13 during mid-day trading on Monday, hitting $4.97. 150,430 shares of the company traded hands, compared to its average volume of 60,636. The stock has a market cap of $674.33 million, a price-to-earnings ratio of -38.23 and a beta of 0.59. The stock has a 50-day moving average price of $5.03 and a two-hundred day moving average price of $4.23. InnovAge Holding Corp. has a 1 year low of $2.60 and a 1 year high of $6.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.17.

InnovAge (NASDAQ:INNV) last posted its earnings results on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $236.11 million during the quarter, compared to the consensus estimate of $226.64 million. InnovAge had a negative net margin of 1.96% and a negative return on equity of 7.02%. InnovAge has set its FY 2026 guidance at EPS. Equities analysts anticipate that InnovAge Holding Corp. will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on INNV. JPMorgan Chase & Co. assumed coverage on InnovAge in a research report on Thursday, September 18th. They set an “underweight” rating and a $5.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of InnovAge in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of InnovAge to a “strong-buy” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, InnovAge has an average rating of “Sell” and an average price target of $5.00.

Institutional Trading of InnovAge

Several hedge funds have recently bought and sold shares of INNV. Bank of America Corp DE raised its stake in shares of InnovAge by 42.4% in the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock worth $78,000 after buying an additional 5,936 shares during the period. Welch Capital Partners LLC NY increased its holdings in InnovAge by 8.4% in the 1st quarter. Welch Capital Partners LLC NY now owns 365,907 shares of the company’s stock worth $1,090,000 after acquiring an additional 28,349 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in InnovAge by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company’s stock worth $490,000 after acquiring an additional 4,535 shares during the period. Nuveen LLC bought a new stake in InnovAge during the 1st quarter worth approximately $159,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in InnovAge by 4.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,259,843 shares of the company’s stock valued at $15,675,000 after purchasing an additional 222,155 shares in the last quarter. Institutional investors 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.