ARS Investment Partners LLC raised its stake in INNOVATE Corp. (NYSE:VATE – Get Rating) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,177,171 shares of the company's stock after buying an additional 74,200 shares during the quarter. ARS Investment Partners LLC owned 1.50% of INNOVATE worth $824,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the business. Jane Street Group LLC bought a new position in INNOVATE in the first quarter valued at approximately $38,000. Renaissance Technologies LLC acquired a new stake in INNOVATE during the 2nd quarter worth approximately $31,000. Laurion Capital Management LP acquired a new stake in INNOVATE during the 2nd quarter worth approximately $35,000. Occudo Quantitative Strategies LP lifted its holdings in INNOVATE by 69.2% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 21,219 shares of the company's stock worth $37,000 after purchasing an additional 8,677 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in INNOVATE during the 2nd quarter worth approximately $37,000. 38.81% of the stock is currently owned by institutional investors.
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Shares of NYSE VATE opened at $1.53 on Thursday. The stock has a market capitalization of $119.88 million, a PE ratio of -2.94 and a beta of 2.32. The business has a fifty day moving average price of $0.99 and a two-hundred day moving average price of $1.43. INNOVATE Corp. has a fifty-two week low of $0.64 and a fifty-two week high of $4.24.
INNOVATE (NYSE:VATE – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.09) earnings per share for the quarter. The company had revenue of $423.00 million during the quarter. INNOVATE had a negative net margin of 2.15% and a negative return on equity of 61.21%.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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