TimesSquare Capital Management LLC Invests $21.83 Million in InnovAge Holding Corp. (OTCMKTS:INNV)

TimesSquare Capital Management LLC purchased a new position in InnovAge Holding Corp. (OTCMKTS:INNV) during the first quarter, HoldingsChannel.com reports. The fund purchased 846,600 shares of the company’s stock, valued at approximately $21,834,000.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of InnovAge in the 1st quarter worth about $27,487,000. Victory Capital Management Inc. acquired a new stake in shares of InnovAge in the 1st quarter worth about $26,747,000. Jennison Associates LLC acquired a new stake in shares of InnovAge in the 1st quarter worth about $12,250,000. Teacher Retirement System of Texas acquired a new stake in shares of InnovAge in the 1st quarter worth about $387,000. Finally, M&T Bank Corp acquired a new stake in shares of InnovAge in the 1st quarter worth about $223,000. Institutional investors own 13.67% of the company’s stock.

OTCMKTS INNV opened at $20.98 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $23.08. InnovAge Holding Corp. has a 12-month low of $19.46 and a 12-month high of $27.18.

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

INNV has been the topic of a number of analyst reports. William Blair initiated coverage on shares of InnovAge in a report on Monday, March 29th. They issued an “outperform” rating on the stock. The Goldman Sachs Group started coverage on shares of InnovAge in a research note on Monday, March 29th. They set a “buy” rating and a $32.00 target price on the stock. Barclays started coverage on shares of InnovAge in a research note on Monday, March 29th. They set an “equal weight” rating and a $26.00 target price on the stock. Citigroup initiated coverage on shares of InnovAge in a research note on Monday, March 29th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Piper Sandler initiated coverage on shares of InnovAge in a research note on Monday, March 29th. They issued an “overweight” rating and a $31.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. InnovAge currently has a consensus rating of “Buy” and a consensus price target of $29.33.

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 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.

Read More: Moving Average (MA)

Want to see what other hedge funds are holding INNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for InnovAge Holding Corp. (OTCMKTS:INNV).

Institutional Ownership by Quarter for InnovAge (OTCMKTS:INNV)

Receive News & Ratings for InnovAge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InnovAge and related companies with MarketBeat.com's FREE daily email newsletter.