Ameriprise Financial Inc. Sells 168,829 Shares of Inotiv, Inc. (NASDAQ:NOTV)

Ameriprise Financial Inc. cut its holdings in Inotiv, Inc. (NASDAQ:NOTV - Free Report) by 63.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Calamos Advisors LLC bought a new stake in Inotiv in the 4th quarter valued at about $275,000. Nkcfo LLC bought a new stake in shares of Inotiv in the fourth quarter valued at approximately $476,000. AlphaCentric Advisors LLC bought a new stake in shares of Inotiv in the fourth quarter valued at approximately $163,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Inotiv during the fourth quarter worth approximately $60,000. Finally, Virtu Financial LLC bought a new position in Inotiv during the 4th quarter worth $76,000. 18.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Inotiv Price Performance

NOTV traded down $0.02 on Friday, hitting $2.69. 480,668 shares of the stock were exchanged, compared to its average volume of 565,726. The firm has a market capitalization of $92.41 million, a price-to-earnings ratio of -0.58 and a beta of 4.08. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.57 and a quick ratio of 1.28. Inotiv, Inc. has a 12 month low of $1.15 and a 12 month high of $6.48. The business has a 50-day moving average of $2.17 and a two-hundred day moving average of $3.27.

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