MSH Capital Advisors LLC bought a new position in shares of INNOVATE Corp. (NYSE:VATE – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,855 shares of the company’s stock, valued at approximately $73,000.
Separately, ARS Investment Partners LLC boosted its stake in INNOVATE by 38.1% in the fourth quarter. ARS Investment Partners LLC now owns 85,170 shares of the company’s stock valued at $421,000 after buying an additional 23,500 shares in the last quarter. 34.28% of the stock is currently owned by institutional investors and hedge funds.
INNOVATE Trading Down 1.6 %
Shares of NYSE VATE opened at $5.81 on Friday. The company has a market cap of $77.11 million, a price-to-earnings ratio of -1.62 and a beta of 2.56. INNOVATE Corp. has a 12 month low of $3.25 and a 12 month high of $13.79. The stock has a 50-day moving average price of $8.45 and a two-hundred day moving average price of $6.96.
INNOVATE Profile
INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. The Infrastructure segment provides industrial construction, structural steel, and facility maintenance services, such as fabrication and erection of structural steel and heavy steel plate services, and large-diameter water pipes and water storage tanks; fabrication of trusses and girders; and 3-D building information modeling and detailing for 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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