InnovAge (NASDAQ:INNV) Stock Price Down 5.5% – Time to Sell?

InnovAge Holding Corp. (NASDAQ:INNV) was down 5.5% on Wednesday . The stock traded as low as $5.32 and last traded at $5.28. Approximately 33,936 shares traded hands during trading, a decline of 45% from the average daily volume of 61,355 shares. The stock had previously closed at $5.59.

Analyst Ratings Changes

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

InnovAge Stock Down 8.3%

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $5.07 and a 200 day moving average price of $4.27. The stock has a market capitalization of $695.36 million, a P/E ratio of -39.46 and a beta of 0.59.

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

Insider Transactions at InnovAge

In other InnovAge news, COO Michael Anthony Scarbrough sold 33,000 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $4.90, for a total transaction of $161,700.00. Following the completion of the sale, the chief operating officer owned 119,617 shares in the company, valued at $586,123.30. This represents a 21.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On InnovAge

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position 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 valued at $78,000 after purchasing an additional 5,936 shares during the period. Welch Capital Partners LLC NY increased its stake in InnovAge by 8.4% during the 1st quarter. Welch Capital Partners LLC NY now owns 365,907 shares of the company’s stock worth $1,090,000 after buying an additional 28,349 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of InnovAge by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company’s stock valued at $490,000 after acquiring an additional 4,535 shares during the last quarter. Nuveen LLC purchased a new position in shares of InnovAge in the first quarter valued at approximately $159,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of InnovAge by 4.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,259,843 shares of the company’s stock worth $15,675,000 after acquiring an additional 222,155 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

About InnovAge

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.