Insider Buying: INNOVATE Corp. (NYSE:VATE) CEO Purchases 25,000 Shares of Stock

INNOVATE Corp. (NYSE:VATE) CEO Paul Voigt acquired 25,000 shares of INNOVATE stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average price of $3.98 per share, with a total value of $99,500.00. Following the completion of the purchase, the chief executive officer now owns 25,000 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink.

INNOVATE Trading Up 24.3 %

Shares of NYSE:VATE opened at $5.99 on Friday. INNOVATE Corp. has a twelve month low of $3.25 and a twelve month high of $14.60. The company has a market cap of $79.43 million, a PE ratio of -1.67 and a beta of 2.38. The company’s 50 day moving average is $4.73 and its 200 day moving average is $5.25.

Institutional Trading of INNOVATE

Several large investors have recently made changes to their positions in the business. Gabelli Funds LLC lifted its position in INNOVATE by 20.9% during the second quarter. Gabelli Funds LLC now owns 289,801 shares of the company’s stock valued at $175,000 after purchasing an additional 50,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in INNOVATE during the 2nd quarter worth about $35,000. Teton Advisors Inc. raised its stake in shares of INNOVATE by 28.6% during the 1st quarter. Teton Advisors Inc. now owns 295,734 shares of the company’s stock valued at $207,000 after buying an additional 65,734 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of INNOVATE by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 2,740,357 shares of the company’s stock valued at $1,920,000 after buying an additional 341,653 shares during the period. 34.28% of the stock is owned by hedge funds and other institutional investors.

INNOVATE Company 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.