Inotiv, Inc. (NASDAQ:NOTV) Stock Position Decreased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in shares of Inotiv, Inc. (NASDAQ:NOTV - Free Report) by 63.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,260 shares of the company's stock after selling 168,829 shares during the period. Ameriprise Financial Inc. owned approximately 0.38% of Inotiv worth $411,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Inotiv in the fourth quarter worth $60,000. Virtu Financial LLC acquired a new stake in shares of Inotiv in the fourth quarter worth $76,000. Dimensional Fund Advisors LP increased its position in shares of Inotiv by 24.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,626 shares of the company's stock worth $131,000 after acquiring an additional 6,216 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Inotiv in the fourth quarter worth $136,000. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Inotiv in the fourth quarter worth $163,000. Hedge funds and other institutional investors own 18.17% of the company's stock.

Analyst Ratings Changes

Separately, Lake Street Capital dropped their price objective on shares of Inotiv from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Thursday, May 8th.

Inotiv Trading Down 0.7%

Shares of Inotiv stock traded down $0.02 during trading hours on Friday, hitting $2.69. The company's stock had a trading volume of 480,668 shares, compared to its average volume of 567,217. Inotiv, Inc. has a 1-year low of $1.15 and a 1-year high of $6.48. The business has a fifty day moving average of $2.17 and a 200 day moving average of $3.27. The company has a market capitalization of $92.41 million, a PE ratio of -0.58 and a beta of 4.08. The company has a quick ratio of 1.28, a current ratio of 1.57 and a debt-to-equity ratio of 2.31.

Inotiv (NASDAQ:NOTV - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.06. Inotiv had a negative net margin of 25.40% and a negative return on equity of 15.41%. The firm had revenue of $124.32 million for the quarter, compared to the consensus estimate of $123.97 million. As a group, equities analysts forecast that Inotiv, Inc. will post -0.79 EPS for the current year.

Inotiv 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.