Private Advisor Group LLC purchased a new position in shares of Inotiv, Inc. (NASDAQ:NOTV – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 85,712 shares of the company’s stock, valued at approximately $371,000. Private Advisor Group LLC owned 0.33% of Inotiv at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NOTV. American International Group Inc. lifted its stake in Inotiv by 10.1% during the 1st quarter. American International Group Inc. now owns 8,652 shares of the company’s stock worth $227,000 after acquiring an additional 796 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Inotiv by 13.7% during the second quarter. JPMorgan Chase & Co. now owns 9,420 shares of the company’s stock worth $90,000 after purchasing an additional 1,136 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Inotiv by 30.8% in the second quarter. Quantbot Technologies LP now owns 7,120 shares of the company’s stock valued at $68,000 after purchasing an additional 1,678 shares during the period. UBS Group AG acquired a new position in shares of Inotiv in the third quarter valued at approximately $50,000. Finally, MetLife Investment Management LLC increased its stake in Inotiv by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 8,408 shares of the company’s stock worth $220,000 after buying an additional 3,103 shares during the period. 30.30% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Wells Fargo & Company initiated coverage on shares of Inotiv in a research note on Thursday, July 20th. They issued an “overweight” rating and a $9.00 price target for the company.
Inotiv Trading Up 2.4 %
Shares of NASDAQ:NOTV opened at $3.83 on Monday. The company has a market cap of $98.75 million, a PE ratio of -0.29 and a beta of 2.43. The company’s 50 day moving average is $5.13 and its two-hundred day moving average is $5.46. Inotiv, Inc. has a 52 week low of $3.10 and a 52 week high of $24.33. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 1.35.
Inotiv (NASDAQ:NOTV – Get Free Report) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.19). Inotiv had a negative return on equity of 14.14% and a negative net margin of 58.34%. The business had revenue of $157.47 million for the quarter, compared to analysts’ expectations of $147.77 million.
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.
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