INNOVATE Corp. [VATE] Insider Activity: An Update for Investors


In a filing, INNOVATE Corp. revealed its President and CEO BARR WAYNE JR acquired Company’s shares for reported $7400.0 on May 23. In the deal valued at $1.48 per share,5,000 shares were bought. As a result of this transaction, BARR WAYNE JR now holds 436,660 shares worth roughly $ 0.72 million.

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Then, Sena Michael J. bought 5,000 shares, generating $4,845 in total proceeds. Upon buying the shares at $0.97, the Chief Financial Officer now owns 661,905 shares.

Before that, Sena Michael J. bought 10,000 shares. INNOVATE Corp. shares valued at $9,675 were divested by the Chief Financial Officer at a price of $0.97 per share. As a result of the transaction, Sena Michael J. now holds 656,905 shares, worth roughly $1.09 million.

Price Performance Review of VATE

On Friday, INNOVATE Corp. [NYSE:VATE] saw its stock jump 3.75% to $1.66. On the same session, the stock had its day’s lowest price of $1.595, but rose to a high of $1.71. Over the last five days, the stock has gained 7.79%. INNOVATE Corp. shares have fallen nearly -11.23% since the year began. Nevertheless, the stocks have risen 8.50% over the past one year. While a 52-week high of $3.53 was reached on 03/06/23, a 52-week low of $0.64 was recorded on 05/31/23. SMA at 50 days reached $1.7134, while 200 days put it at $2.1565. A total of 0.14 million shares were traded, compared to the trading of 77100.0 shares in the previous session.

Levels Of Support And Resistance For VATE Stock

The 24-hour chart illustrates a support level at 1.6000, which if violated will result in even more drops to 1.5400. On the upside, there is a resistance level at 1.7150. A further resistance level may holdings at 1.7700. The Relative Strength Index (RSI) on the 14-day chart is 49.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0033, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 60.79%. Stochastics %K at 33.30% indicates the stock is a holding.

How much short interest is there in INNOVATE Corp.?

A steep rise in short interest was recorded in INNOVATE Corp. stocks on Aug 14, 2023, dropping by 60000.0 shares to a total of 3.52 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.58 million shares. There was a decline of -1.7%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.81% of the overall stock float, the days-to-cover ratio (short ratio) fell to 25.76.

INNOVATE Corp. [VATE] – Who Are The Largest Shareholders?

In filings from Jefferies LLC, it is revealed that the company now owns 5,450,314 shares, or roughly 6.90% of the outstanding VATE shares. Additionally, Tontine Associates LLC decreased -0.26% of its stake after which the total value it holdings stand at $6,276,852, while Goldman Sachs & Co. LLC reduced -8.64% of its stake to hold $4.57 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 1,892,735 shares of INNOVATE Corp., while The Vanguard Group, Inc. bought 168,625 shares. At present, ARS Investment Partners LLC is holding 1,880,790 shares valued at $3.1 million. Whitefort Capital Management, LP owned 1,509,453 shares of the company at the time of its most recent 13F filing, worth $2.49 million.

According to FactSet, INNOVATE Corp.’s share price will average $5.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 212.5 percent from its previous closing price of $1.60. Analysts expect INNOVATE Corp. stock to reach the higher price of $5.00, while the lowest price estimate is $5.00. However, 1 analyst have rated VATE stock as a Buy in their predictions for 2023.


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