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

Mount Lucas Management LP bought a new stake in Inotiv, Inc. (NASDAQ:NOTV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 113,000 shares of the company's stock, valued at approximately $250,000. Mount Lucas Management LP owned approximately 0.34% of Inotiv at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Two Sigma Investments LP boosted its stake in Inotiv by 67.8% during the 4th quarter. Two Sigma Investments LP now owns 71,689 shares of the company's stock worth $297,000 after purchasing an additional 28,965 shares during the period. Two Sigma Advisers LP boosted its stake in Inotiv by 31.6% during the 4th quarter. Two Sigma Advisers LP now owns 22,500 shares of the company's stock worth $93,000 after purchasing an additional 5,400 shares during the period. Virtu Financial LLC acquired a new stake in Inotiv during the 4th quarter worth $76,000. Northern Trust Corp boosted its stake in Inotiv by 20.2% during the 4th quarter. Northern Trust Corp now owns 48,372 shares of the company's stock worth $200,000 after purchasing an additional 8,134 shares during the period. Finally, Millennium Management LLC boosted its stake in Inotiv by 553.7% during the 4th quarter. Millennium Management LLC now owns 287,899 shares of the company's stock worth $1,192,000 after purchasing an additional 243,860 shares during the period. Institutional investors and hedge funds own 18.17% of the company's stock.

Analysts Set New Price Targets

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

Inotiv Stock Performance

NASDAQ:NOTV traded down $0.14 during trading hours on Friday, reaching $2.22. 328,370 shares of the company's stock were exchanged, compared to its average volume of 431,197. The firm has a market capitalization of $76.26 million, a price-to-earnings ratio of -0.70 and a beta of 3.94. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 2.49. Inotiv, Inc. has a 1-year low of $1.15 and a 1-year high of $6.48. The company has a 50-day moving average of $2.21 and a 200 day moving average of $2.72.

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

Inotiv Company 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.