State Street Corp Has $61,000 Stake in INNOVATE Corp. (NYSE:VATE)

State Street Corp reduced its holdings in INNOVATE Corp. (NYSE:VATE) by 90.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,547 shares of the company’s stock after selling 148,900 shares during the quarter. State Street Corp owned approximately 0.12% of INNOVATE worth $61,000 at the end of the most recent reporting period.

Separately, Gabelli Funds LLC raised its stake in shares of INNOVATE by 20.9% in the second quarter. Gabelli Funds LLC now owns 289,801 shares of the company’s stock worth $175,000 after acquiring an additional 50,000 shares during the last quarter. 34.28% of the stock is owned by hedge funds and other institutional investors.

INNOVATE Stock Up 9.4 %

VATE stock opened at $5.47 on Friday. The business has a fifty day moving average of $5.32 and a 200-day moving average of $5.02. The company has a market cap of $72.54 million, a P/E ratio of -1.53 and a beta of 2.37. INNOVATE Corp. has a twelve month low of $3.25 and a twelve month high of $11.40.

Insider Buying and Selling at INNOVATE

In other news, CEO Paul Voigt purchased 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $3.98 per share, for a total transaction of $99,500.00. Following the transaction, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at approximately $99,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 55.20% 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.