INNOVATE Corp. (NYSE:VATE) Short Interest Update

INNOVATE Corp. (NYSE:VATE - Get Free Report) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 316,900 shares, a growth of 16.5% from the November 15th total of 272,100 shares. Based on an average daily volume of 65,700 shares, the short-interest ratio is currently 4.8 days. Approximately 6.6% of the company's stock are short sold.

Insider Activity

In other news, CEO Paul Voigt purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average price of $3.98 per share, with a total value of $99,500.00. Following the purchase, the chief executive officer now owns 25,000 shares in the company, valued at $99,500. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 55.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On INNOVATE

Large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in INNOVATE during the second quarter worth approximately $35,000. Gabelli Funds LLC boosted its position in INNOVATE by 20.9% during the second quarter. Gabelli Funds LLC now owns 289,801 shares of the company's stock worth $175,000 after purchasing an additional 50,000 shares during the period. Finally, Vanguard Group Inc. boosted its position in INNOVATE by 14.2% during the first quarter. Vanguard Group Inc. now owns 2,740,357 shares of the company's stock worth $1,920,000 after purchasing an additional 341,653 shares during the period. Institutional investors own 34.28% of the company's stock.

INNOVATE Trading Down 7.3 %

Shares of NYSE VATE traded down $0.43 during trading hours on Friday, hitting $5.50. The stock had a trading volume of 36,911 shares, compared to its average volume of 48,195. The firm's 50-day moving average price is $5.38 and its two-hundred day moving average price is $5.10. INNOVATE has a 52 week low of $3.25 and a 52 week high of $13.10.

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.