Gabelli Funds LLC Has $96,000 Stock Position in INNOVATE Corp. (NYSE:VATE)

Gabelli Funds LLC cut its position in INNOVATE Corp. (NYSE:VATE) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,500 shares of the company’s stock after selling 4,500 shares during the quarter. Gabelli Funds LLC owned approximately 0.15% of INNOVATE worth $96,000 at the end of the most recent reporting period.

Separately, Geode Capital Management LLC boosted its position in shares of INNOVATE by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 123,674 shares of the company’s stock valued at $611,000 after acquiring an additional 1,962 shares in the last quarter. Institutional investors and hedge funds own 34.28% of the company’s stock.

INNOVATE Price Performance

Shares of NYSE:VATE opened at $5.81 on Monday. The business’s fifty day moving average price is $8.31 and its two-hundred day moving average price is $7.03. INNOVATE Corp. has a fifty-two week low of $3.25 and a fifty-two week high of $13.79. The stock has a market capitalization of $77.11 million, a price-to-earnings ratio of -1.62 and a beta of 2.56.

INNOVATE (NYSE:VATE) last released its quarterly earnings results on Monday, March 31st. The company reported ($1.29) earnings per share for the quarter. The company had revenue of $236.60 million during the quarter.

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.