Perkins Capital Management Inc. Makes New Investment in Inotiv, Inc. (NASDAQ:NOTV)

Perkins Capital Management Inc. bought a new stake in shares of Inotiv, Inc. (NASDAQ:NOTV - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 120,000 shares of the company's stock, valued at approximately $497,000. Perkins Capital Management Inc. owned about 0.46% of Inotiv as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Inotiv during the fourth quarter valued at $60,000. Virtu Financial LLC purchased a new stake in shares of Inotiv during the 4th quarter valued at about $76,000. LPL Financial LLC bought a new position in shares of Inotiv in the 4th quarter valued at about $136,000. AlphaCentric Advisors LLC purchased a new position in Inotiv in the fourth quarter worth about $163,000. Finally, American Century Companies Inc. bought a new stake in Inotiv during the fourth quarter worth approximately $163,000. 18.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Robert Jr. Leasure sold 22,700 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $4.15, for a total transaction of $94,205.00. Following the transaction, the chief executive officer now directly owns 1,030,209 shares in the company, valued at approximately $4,275,367.35. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 108,311 shares of company stock valued at $425,330. 7.80% of the stock is currently owned by company insiders.

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Inotiv Trading Down 8.5 %

NOTV stock traded down $0.20 during midday trading on Friday, reaching $2.15. 560,161 shares of the company traded hands, compared to its average volume of 517,043. The firm has a market capitalization of $72.49 million, a price-to-earnings ratio of -0.47 and a beta of 3.77. Inotiv, Inc. has a 52-week low of $1.23 and a 52-week high of $11.20. The business has a 50 day moving average of $3.52 and a 200-day moving average of $3.19. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.28 and a current ratio of 1.57.

Inotiv (NASDAQ:NOTV - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.10). Inotiv had a negative net margin of 25.40% and a negative return on equity of 15.41%. As a group, sell-side analysts expect that Inotiv, Inc. will post -0.79 earnings per share for the current fiscal year.

About Inotiv

Inotiv, Inc provides nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries. It operates through two segment: Discovery and Safety Assessment (DSA), and Research Models and Services (RMS). The DMS segment manufactured scientific instruments for life sciences research and the related software for use by pharmaceutical companies, universities, government research centers, and medical research institutions under the Company's BASi product line.