INNOVATE Corp. (NYSE:VATE) Holdings Lowered by Jane Street Group LLC

Jane Street Group LLC reduced its holdings in INNOVATE Corp. (NYSE:VATE) by 68.7% in the 3rd quarter, Holdings Channel reports. The fund owned 15,189 shares of the company’s stock after selling 33,343 shares during the period. Jane Street Group LLC’s holdings in INNOVATE were worth $56,000 as of its most recent SEC filing.

Separately, Gabelli Funds LLC raised its stake in shares of INNOVATE by 20.9% during the 2nd quarter. Gabelli Funds LLC now owns 289,801 shares of the company’s stock worth $175,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors own 34.28% of the company’s stock.

Insider Transactions at INNOVATE

In related news, CEO Paul Voigt acquired 25,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average price of $3.98 per share, with a total value of $99,500.00. Following the acquisition, the chief executive officer now owns 25,000 shares in the company, valued at approximately $99,500. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 55.20% of the company’s stock.

INNOVATE Price Performance

VATE opened at $4.87 on Thursday. INNOVATE Corp. has a fifty-two week low of $3.25 and a fifty-two week high of $10.80. The business has a 50-day moving average of $5.24 and a 200-day moving average of $4.96. The company has a market capitalization of $64.58 million, a PE ratio of -1.36 and a beta of 2.41.

INNOVATE 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.