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

Stonehill Capital Management LLC lessened its stake in INNOVATE Corp. (NYSE:VATE) by 90.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,307 shares of the company’s stock after selling 1,316,761 shares during the quarter. INNOVATE accounts for about 0.3% of Stonehill Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Stonehill Capital Management LLC’s holdings in INNOVATE were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in INNOVATE during the second quarter worth $35,000. Gabelli Funds LLC raised 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 acquiring an additional 50,000 shares in the last quarter. Finally, Vanguard Group Inc. raised 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 acquiring an additional 341,653 shares in the last quarter. Institutional investors and hedge funds own 34.28% of the company’s stock.

Insider Buying and Selling

In other news, CEO Paul Voigt acquired 25,000 shares of INNOVATE stock in a transaction on Tuesday, November 19th. The shares were purchased at an average cost of $3.98 per share, for a total transaction of $99,500.00. Following the completion of the purchase, the chief executive officer now directly owns 25,000 shares of the company’s stock, valued at approximately $99,500. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 55.20% of the stock is owned by insiders.

INNOVATE Price Performance

Shares of VATE opened at $5.85 on Thursday. The company’s 50-day moving average is $5.05 and its 200-day moving average is $5.16. INNOVATE Corp. has a fifty-two week low of $3.25 and a fifty-two week high of $14.60.

INNOVATE Company 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.