Perkins Capital Management Inc. Purchases Shares of 120,000 Inotiv, Inc. (NASDAQ:NOTV)

Perkins Capital Management Inc. purchased a new stake in shares of Inotiv, Inc. (NASDAQ:NOTV) in the fourth quarter, Holdings Channel.com reports. The firm purchased 120,000 shares of the company’s stock, valued at approximately $497,000.

Several other institutional investors have also recently made changes to their positions in NOTV. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Inotiv during the fourth quarter worth about $60,000. Geode Capital Management LLC lifted 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 valued at $427,000 after purchasing an additional 18,039 shares during the last quarter. Virtu Financial LLC purchased a new position in Inotiv in the 4th quarter worth approximately $76,000. LPL Financial LLC bought a new position in shares of Inotiv in the 4th quarter worth $136,000. Finally, KPP Advisory Services LLC increased its holdings in shares of Inotiv by 15.8% in the 4th quarter. KPP Advisory Services LLC now owns 275,267 shares of the company’s stock worth $1,140,000 after buying an additional 37,549 shares during the last quarter. Institutional investors own 18.17% of the company’s stock.

Inotiv Stock Performance

NASDAQ NOTV opened at $2.75 on Monday. Inotiv, Inc. has a 52-week low of $1.23 and a 52-week high of $11.42. The company has a fifty day moving average of $3.70 and a 200-day moving average of $3.18. The company has a market capitalization of $92.72 million, a P/E ratio of -0.60 and a beta of 3.77. 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) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.10). Inotiv had a negative return on equity of 15.41% and a negative net margin of 25.40%. As a group, equities research analysts predict that Inotiv, Inc. will post -0.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert Jr. Leasure sold 73,617 shares of Inotiv stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $3.82, for a total value of $281,216.94. Following the transaction, the chief executive officer now owns 956,592 shares in the company, valued at $3,654,181.44. This trade represents a 7.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 108,311 shares of company stock worth $425,330 in the last quarter. 7.80% of the stock is owned by 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.