296,294 Shares in Innventure, Inc. (NASDAQ:INV) Bought by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. has acquired a new position in Innventure, Inc., purchasing 296,294 shares valued at approximately $2.28 million, representing about 0.63% ownership.
• Other institutional investors, including Northern Trust Corp and Geode Capital Management, have also increased their stakes in Innventure, which is now 55.98% owned by institutions.
• Innventure reported earnings of $0.60 EPS for the last quarter, significantly exceeding the consensus estimate of ($0.13), although revenue was below expectations at $0.22 million.

PNC Financial Services Group Inc. acquired a new position in Innventure, Inc. (NASDAQ:INV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 296,294 shares of the company's stock, valued at approximately $2,284,000. PNC Financial Services Group Inc. owned approximately 0.63% of Innventure as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of INV. Northern Trust Corp acquired a new position in Innventure during the fourth quarter valued at $601,000. Geode Capital Management LLC bought a new stake in shares of Innventure in the 4th quarter worth approximately $918,000. Barclays PLC acquired a new position in shares of Innventure in the 4th quarter worth approximately $389,000. Tower Research Capital LLC TRC acquired a new position in shares of Innventure in the 4th quarter worth approximately $52,000. Finally, Millennium Management LLC acquired a new stake in shares of Innventure in the fourth quarter valued at $429,000. Institutional investors own 55.98% of the company's stock.

Innventure Stock Down 1.7%

Shares of NASDAQ:INV traded down $0.08 during midday trading on Monday, reaching $4.72. The company's stock had a trading volume of 64,691 shares, compared to its average volume of 127,649. The business's fifty day simple moving average is $5.08 and its 200-day simple moving average is $6.38. Innventure, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $18.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.11 and a current ratio of 0.22.

Innventure (NASDAQ:INV - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.73. The firm had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.58 million.

Innventure Profile

Innventure Inc founds, funds and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. Innventure Inc, formerly known as Learn CW Investment Corporation, is based in ORLANDO, Fla.