TimesSquare Capital Management LLC Makes New Investment in InnovAge Holding Corp. (OTCMKTS:INNV)

TimesSquare Capital Management LLC bought a new position in InnovAge Holding Corp. (OTCMKTS:INNV) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 846,600 shares of the company’s stock, valued at approximately $21,834,000. TimesSquare Capital Management LLC owned approximately 0.64% of InnovAge as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in InnovAge during the 1st quarter valued at approximately $26,747,000. M&T Bank Corp bought a new position in InnovAge during the 1st quarter valued at approximately $223,000. BlackRock Inc. bought a new position in InnovAge during the 1st quarter valued at approximately $27,487,000. Segantii Capital Management Ltd bought a new stake in shares of InnovAge in the 1st quarter worth $116,000. Finally, Jennison Associates LLC bought a new stake in shares of InnovAge in the 1st quarter worth $12,250,000. 13.67% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on INNV shares. The Goldman Sachs Group started coverage on InnovAge in a research note on Monday, March 29th. They issued a “buy” rating and a $32.00 price target on the stock. Robert W. Baird started coverage on InnovAge in a research note on Thursday, May 27th. They issued an “outperform” rating and a $27.00 price target on the stock. Citigroup started coverage on InnovAge in a research note on Monday, March 29th. They issued a “buy” rating and a $30.00 price target on the stock. Barclays started coverage on InnovAge in a research note on Monday, March 29th. They issued an “equal weight” rating and a $26.00 price target on the stock. Finally, William Blair began coverage on InnovAge in a research note on Monday, March 29th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $29.33.

InnovAge stock opened at $20.98 on Friday. The business’s fifty day moving average is $23.08. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.22. InnovAge Holding Corp. has a twelve month low of $19.46 and a twelve month high of $27.18.

InnovAge (OTCMKTS:INNV) last released its earnings results on Sunday, May 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08). Analysts anticipate that InnovAge Holding Corp. will post -0.33 earnings per share for the current fiscal year.

InnovAge 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 their homes and communities. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. The company offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, dental, mental health and psychiatric, meals, and activities, as well as physical, occupational, and speech therapy; transportation to the PACE center and third-party medical appointments; and care management.

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Institutional Ownership by Quarter for InnovAge (OTCMKTS:INNV)

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