113,000 Shares in Inotiv, Inc. (NASDAQ:NOTV) Acquired by Mount Lucas Management LP

Mount Lucas Management LP acquired a new stake in Inotiv, Inc. (NASDAQ:NOTV) in the first quarter, Holdings Channel reports. The firm acquired 113,000 shares of the company’s stock, valued at approximately $250,000.

Several other large investors have also bought and sold shares of the stock. Balyasny Asset Management L.P. lifted its stake in Inotiv by 7,714.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,303,741 shares of the company’s stock valued at $5,397,000 after buying an additional 1,287,058 shares during the period. Kennedy Capital Management LLC bought a new position in Inotiv in the fourth quarter worth approximately $5,250,000. Renaissance Technologies LLC increased its holdings in shares of Inotiv by 77.9% during the fourth quarter. Renaissance Technologies LLC now owns 304,254 shares of the company’s stock valued at $1,260,000 after acquiring an additional 133,190 shares in the last quarter. Millennium Management LLC raised its position in shares of Inotiv by 553.7% during the fourth 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. Finally, Marshall Wace LLP acquired a new stake in Inotiv in the 4th quarter valued at $737,000. 18.17% of the stock is owned by institutional investors.

Inotiv Trading Up 7.1%

Shares of NOTV stock opened at $2.25 on Thursday. The company has a market cap of $77.29 million, a price-to-earnings ratio of -0.71 and a beta of 3.94. 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 firm has a fifty day moving average price of $2.20 and a 200-day moving average price of $2.78. Inotiv, Inc. has a 1 year low of $1.15 and a 1 year high of $6.48.

Inotiv (NASDAQ:NOTV) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. The business had revenue of $124.32 million for the quarter, compared to analysts’ expectations of $123.97 million. Inotiv had a negative net margin of 18.21% and a negative return on equity of 15.64%. As a group, equities analysts predict that Inotiv, Inc. will post -0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital lowered their price objective on shares of Inotiv from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th.

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.