INNOVATE Corp. (NYSE:VATE) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in INNOVATE Corp. (NYSE:VATE) by 76.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 121,712 shares of the company’s stock after selling 398,600 shares during the period. Geode Capital Management LLC owned about 0.92% of INNOVATE worth $450,000 at the end of the most recent quarter.

Separately, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of INNOVATE during the second quarter worth $35,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

INNOVATE Price Performance

VATE stock opened at $4.90 on Monday. INNOVATE Corp. has a 1 year low of $3.25 and a 1 year high of $10.80. The firm has a market capitalization of $64.98 million, a P/E ratio of -1.37 and a beta of 2.41. The business’s 50-day moving average is $5.25 and its two-hundred day moving average is $4.98.

Insider Activity at INNOVATE

In other news, CEO Paul Voigt acquired 25,000 shares of INNOVATE stock in a transaction on Tuesday, November 19th. The stock was bought at an average price of $3.98 per share, for a total transaction of $99,500.00. Following the completion of the purchase, the chief executive officer now owns 25,000 shares in the company, valued at $99,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 55.20% of the stock is owned by corporate insiders.

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.