Vantage Point Financial LLC Invests $1.39 Million in Inotiv, Inc. (NASDAQ:NOTV)

Vantage Point Financial LLC acquired a new position in shares of Inotiv, Inc. (NASDAQ:NOTV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 336,546 shares of the company's stock, valued at approximately $1,393,000. Vantage Point Financial LLC owned 1.29% of Inotiv at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NOTV. Renaissance Technologies LLC increased its stake in shares of Inotiv by 29.9% during the 2nd quarter. Renaissance Technologies LLC now owns 164,164 shares of the company's stock worth $273,000 after purchasing an additional 37,800 shares during the last quarter. Geode Capital Management LLC increased its position in Inotiv by 7.7% during the third quarter. Geode Capital Management LLC now owns 250,895 shares of the company's stock worth $427,000 after buying an additional 18,039 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Inotiv by 612.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 127,257 shares of the company's stock valued at $527,000 after buying an additional 109,397 shares during the period. Finally, KPP Advisory Services LLC lifted its position in shares of Inotiv by 15.8% in the fourth quarter. KPP Advisory Services LLC now owns 275,267 shares of the company's stock valued at $1,140,000 after buying an additional 37,549 shares during the last quarter. 18.17% of the stock is currently owned by institutional investors.

Inotiv Stock Performance

Shares of NASDAQ NOTV traded down $0.41 during midday trading on Friday, hitting $3.51. 1,090,696 shares of the company's stock were exchanged, compared to its average volume of 684,424. The company has a quick ratio of 1.22, a current ratio of 1.37 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $91.30 million, a PE ratio of -0.84 and a beta of 3.58. Inotiv, Inc. has a 12 month low of $1.23 and a 12 month high of $11.42. The company's 50 day moving average price is $4.43 and its 200 day moving average price is $2.81.

Inotiv (NASDAQ:NOTV - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.10). Inotiv had a negative return on equity of 15.86% and a negative net margin of 22.10%. As a group, analysts predict that Inotiv, Inc. will post -0.75 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Robert Jr. Leasure sold 22,700 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $4.15, for a total value of $94,205.00. Following the transaction, the chief executive officer now owns 1,030,209 shares in the company, valued at approximately $4,275,367.35. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Harrington acquired 10,000 shares of Inotiv stock in a transaction on Friday, December 6th. The shares were purchased at an average price of $3.98 per share, for a total transaction of $39,800.00. Following the completion of the purchase, the director now directly owns 37,500 shares of the company's stock, valued at approximately $149,250. This represents a 36.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 71,029 shares of company stock valued at $314,248 and sold 26,872 shares valued at $112,854. 7.80% of the stock is currently owned by company insiders.

Inotiv Company Profile

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.