INNOVATE Corp. (NYSE:VATE – Get Rating) shot up 7.3% on Wednesday . The stock traded as high as $3.01 and last traded at $2.94. 1,098,435 shares traded hands during trading, an increase of 84% from the average session volume of 595,496 shares. The stock had previously closed at $2.74.
INNOVATE Stock Up 1.4 %
The business has a 50 day simple moving average of $1.78 and a 200-day simple moving average of $1.44.
Get INNOVATE alerts: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 firm had revenue of $423.00 million for the quarter.
Institutional Trading of INNOVATE
Several institutional investors have recently made changes to their positions in VATE. Whitefort Capital Management LP boosted its holdings in INNOVATE by 554.3% in the first quarter. Whitefort Capital Management LP now owns 1,594,327 shares of the company's stock valued at $5,883,000 after acquiring an additional 1,350,662 shares during the last quarter. ARS Investment Partners LLC grew its holdings in shares of INNOVATE by 71.0% during the 4th quarter. ARS Investment Partners LLC now owns 2,013,159 shares of the company's stock worth $3,765,000 after purchasing an additional 835,988 shares during the period. Goldman Sachs Group Inc. increased its position in INNOVATE by 549.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 653,953 shares of the company's stock worth $2,413,000 after purchasing an additional 553,268 shares in the last quarter. B. Riley Financial Inc. increased its position in INNOVATE by 16.2% during the 2nd quarter. B. Riley Financial Inc. now owns 3,825,358 shares of the company's stock worth $6,618,000 after purchasing an additional 534,375 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in INNOVATE in the first quarter valued at approximately $1,585,000. 32.87% of the stock is owned by hedge funds and other institutional investors.INNOVATE Company Profile
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INNOVATE Corp. engages in the acquisition and investment of assets. It operates through the following segments: Infrastructure, Clean Energy, Telecommunications, Insurance, Life Sciences, Spectrum, and Other. The Infrastructure segment models, details, fabricates, and erects structural steel for commercial and industrial construction projects.
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