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 company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $4.90, for a total transaction of $161,700.00. Following the completion of the transaction, the chief operating officer owned 119,617 shares of the company’s stock, valued at $586,123.30. This trade represents a 21.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

InnovAge Stock Performance

InnovAge stock opened at $5.59 on Wednesday. InnovAge Holding Corp. has a 12-month low of $2.60 and a 12-month high of $6.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $758.45 million, a price-to-earnings ratio of -43.00 and a beta of 0.59. The firm’s fifty day moving average price is $5.07 and its 200 day moving average price is $4.27.

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

Institutional Investors Weigh In On InnovAge

A number of institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in InnovAge by 42.4% during the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock worth $78,000 after purchasing an additional 5,936 shares during the last quarter. Welch Capital Partners LLC NY raised its holdings in shares of InnovAge by 8.4% during the first quarter. Welch Capital Partners LLC NY now owns 365,907 shares of the company’s stock worth $1,090,000 after purchasing an additional 28,349 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of InnovAge by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company’s stock worth $490,000 after buying an additional 4,535 shares during the last quarter. Nuveen LLC acquired a new position in shares of InnovAge in the 1st quarter valued at about $159,000. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of InnovAge by 4.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,259,843 shares of the company’s stock valued at $15,675,000 after buying an additional 222,155 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.