Mount Lucas Management LP Purchases New Position in Inotiv, Inc. (NASDAQ:NOTV)

Mount Lucas Management LP bought a new position in Inotiv, Inc. (NASDAQ:NOTV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 113,000 shares of the company's stock, valued at approximately $250,000. Mount Lucas Management LP owned 0.34% of Inotiv as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of Inotiv during the 4th quarter valued at $76,000. Two Sigma Advisers LP raised its stake in shares of Inotiv by 31.6% in the 4th quarter. Two Sigma Advisers LP now owns 22,500 shares of the company's stock valued at $93,000 after purchasing an additional 5,400 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of Inotiv in the 1st quarter valued at about $94,000. Dimensional Fund Advisors LP grew its position in shares of Inotiv by 24.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,626 shares of the company's stock valued at $131,000 after buying an additional 6,216 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in shares of Inotiv during the 4th quarter valued at about $136,000. 18.17% of the stock is owned by hedge funds and other institutional investors.

Inotiv Price Performance

Shares of Inotiv stock traded down $0.14 on Friday, hitting $2.22. The company had a trading volume of 328,370 shares, compared to its average volume of 696,130. The business has a 50-day simple moving average of $2.21 and a 200-day simple moving average of $2.76. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.50 and a quick ratio of 1.18. The company has a market cap of $76.26 million, a PE ratio of -0.70 and a beta of 3.94. Inotiv, Inc. has a 52 week low of $1.15 and a 52 week high of $6.48.

Inotiv (NASDAQ:NOTV - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.06. Inotiv had a negative net margin of 18.21% and a negative return on equity of 15.64%. The business had revenue of $124.32 million during the quarter, compared to the consensus estimate of $123.97 million. Research analysts expect that Inotiv, Inc. will post -0.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital decreased their target price 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 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.