Innventure (NASDAQ:INV) Chairman Michael Otworth Acquires 231,000 Shares of Stock

Key Points

• Chairman Michael Otworth bought 231,000 Innventure shares at an average price of $1.51, investing $348,810 and increasing his direct holdings by 6.51% to 3.78 million shares.
• Innventure’s stock rose 4.3% to $1.56, but remains near its one-year low of $1.26 and well below its 50-day and 200-day moving averages.
• The company reported a quarterly EPS loss of $0.32, missing estimates by $0.09, while revenue of $0.95 million fell short of the $1.97 million consensus forecast. Analysts’ average rating is “Sell,” with a $5.00 target price.

Innventure, Inc. (NASDAQ:INV - Get Free Report) Chairman Michael Otworth purchased 231,000 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $1.51 per share, with a total value of $348,810.00. Following the completion of the purchase, the chairman directly owned 3,781,087 shares in the company, valued at $5,709,441.37. The trade was a 6.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Innventure Trading Up 4.3%

Innventure stock traded up $0.07 during mid-day trading on Friday, hitting $1.56. The company's stock had a trading volume of 1,950,549 shares, compared to its average volume of 2,372,151. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.15 and a current ratio of 1.20. The company has a 50 day moving average of $4.07 and a 200-day moving average of $4.51. Innventure, Inc. has a one year low of $1.26 and a one year high of $7.86. The stock has a market cap of $131.53 million, a PE ratio of -1.02 and a beta of 0.43.

Innventure (NASDAQ:INV - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.09). The company had revenue of $0.95 million for the quarter, compared to analysts' expectations of $1.97 million. Innventure had a negative net margin of 3,022.42% and a negative return on equity of 21.34%. On average, research analysts anticipate that Innventure, Inc. will post -1.17 EPS for the current year.

Institutional Investors Weigh In On Innventure

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Innventure during the second quarter worth $19,034,000. Vanguard Group Inc. boosted its position in shares of Innventure by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,528,649 shares of the company's stock worth $8,851,000 after purchasing an additional 56,764 shares in the last quarter. Yorkville Advisors Global LP grew its stake in Innventure by 17,166.7% during the 4th quarter. Yorkville Advisors Global LP now owns 1,295,000 shares of the company's stock worth $5,413,000 after buying an additional 1,287,500 shares during the last quarter. Stifel Financial Corp purchased a new position in Innventure during the 4th quarter worth $2,903,000. Finally, Geode Capital Management LLC increased its position in Innventure by 96.3% during the 4th quarter. Geode Capital Management LLC now owns 679,953 shares of the company's stock valued at $2,843,000 after buying an additional 333,615 shares in the last quarter. 55.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INV has been the subject of several research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Innventure in a research report on Tuesday, August 4th. Northland Securities set a $5.00 target price on Innventure in a report on Friday, August 14th. Finally, Wall Street Zen cut Innventure from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of "Sell" and an average target price of $5.00.

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.

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