PNC Financial Services Group Inc. Buys New Position in Innventure, Inc. (NASDAQ:INV)

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

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Innventure during the 4th quarter valued at about $52,000. Bank of America Corp DE purchased a new stake in shares of Innventure during the 4th quarter valued at about $126,000. FWG Holdings LLC purchased a new stake in shares of Innventure during the 1st quarter valued at about $111,000. CastleKnight Management LP purchased a new stake in shares of Innventure during the 4th quarter valued at about $387,000. Finally, Barclays PLC purchased a new stake in Innventure during the 4th quarter worth approximately $389,000. 55.98% of the stock is owned by institutional investors and hedge funds.

Innventure Price Performance

INV stock traded down $0.21 during midday trading on Wednesday, hitting $4.53. 109,069 shares of the company's stock were exchanged, compared to its average volume of 127,530. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.22 and a quick ratio of 0.11. Innventure, Inc. has a 12-month low of $3.00 and a 12-month high of $18.75. The firm has a 50 day moving average price of $5.05 and a 200-day moving average price of $6.31.

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

About Innventure

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.