FNY Investment Advisers LLC acquired a new position in shares of INNOVATE Corp. (NYSE:VATE – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 220,000 shares of the company's stock, valued at approximately $154,000. FNY Investment Advisers LLC owned 0.28% of INNOVATE as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in shares of INNOVATE in the second quarter valued at approximately $31,000. Laurion Capital Management LP acquired a new stake in shares of INNOVATE in the second quarter valued at approximately $35,000. Occudo Quantitative Strategies LP raised its position in shares of INNOVATE by 69.2% in the second quarter. Occudo Quantitative Strategies LP now owns 21,219 shares of the company's stock valued at $37,000 after buying an additional 8,677 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of INNOVATE in the second quarter valued at approximately $37,000. Finally, Jane Street Group LLC acquired a new stake in shares of INNOVATE in the first quarter valued at approximately $38,000. Institutional investors own 32.87% of the company's stock.
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INNOVATE Trading Up 1.4 %
NYSE VATE opened at $1.42 on Monday. INNOVATE Corp. has a 1-year low of $0.64 and a 1-year high of $4.24. The company has a 50 day moving average of $1.08 and a 200-day moving average of $1.37. The company has a market cap of $111.27 million, a price-to-earnings ratio of -2.73 and a beta of 2.32.
INNOVATE (NYSE:VATE – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.09) earnings per share for the quarter. INNOVATE had a negative net
margin of 2.15% and a negative return on equity of 61.21%. The business had revenue of $423.00 million during the quarter.
INNOVATE Profile
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INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. It provides industrial construction, structural steel, and facility maintenance services for use in commercial, industrial, and infrastructure construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills, and power plants.
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