ARS Investment Partners LLC Buys 23,500 Shares of INNOVATE Corp. (NYSE:VATE)

ARS Investment Partners LLC boosted its stake in INNOVATE Corp. (NYSE:VATE) by 38.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,170 shares of the company’s stock after acquiring an additional 23,500 shares during the period. ARS Investment Partners LLC owned 0.64% of INNOVATE worth $421,000 at the end of the most recent quarter.

Separately, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of INNOVATE during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

INNOVATE Stock Performance

INNOVATE stock opened at $5.11 on Tuesday. INNOVATE Corp. has a 52-week low of $3.25 and a 52-week high of $10.80. The stock’s 50 day moving average price is $5.27 and its two-hundred day moving average price is $4.93.

Insiders Place Their Bets

In other news, CEO Paul Voigt bought 25,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost of $3.98 per share, with a total value of $99,500.00. Following the completion of the transaction, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at $99,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 55.20% of the company’s stock.

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.