Paul Voigt Acquires 25,000 Shares of INNOVATE Corp. (NYSE:VATE) Stock

INNOVATE Corp. (NYSE:VATE) CEO Paul Voigt purchased 25,000 shares of INNOVATE stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of $3.98 per share, for a total transaction of $99,500.00. Following the completion of the transaction, the chief executive officer now owns 25,000 shares in the company, valued at $99,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

INNOVATE Stock Up 23.9 %

NYSE VATE traded up $0.93 during trading hours on Thursday, hitting $4.82. 134,118 shares of the company were exchanged, compared to its average volume of 37,978. The stock has a 50-day moving average price of $4.67 and a 200 day moving average price of $5.26. INNOVATE Corp. has a 52 week low of $3.25 and a 52 week high of $14.60. The stock has a market cap of $63.91 million, a PE ratio of -1.17 and a beta of 2.38.

Hedge Funds Weigh In On INNOVATE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of INNOVATE by 14.2% in the first quarter. Vanguard Group Inc. now owns 2,740,357 shares of the company’s stock valued at $1,920,000 after acquiring an additional 341,653 shares in the last quarter. Teton Advisors Inc. raised its stake in shares of INNOVATE by 28.6% in the 1st quarter. Teton Advisors Inc. now owns 295,734 shares of the company’s stock valued at $207,000 after acquiring an additional 65,734 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in INNOVATE in the second quarter valued at about $35,000. Finally, Gabelli Funds LLC raised its holdings in shares of INNOVATE by 28.6% during the first quarter. Gabelli Funds LLC now owns 239,801 shares of the company’s stock worth $168,000 after purchasing an additional 53,301 shares during the period. Hedge funds and other institutional investors own 34.28% of the company’s stock.

About INNOVATE

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.