Naviter Wealth LLC Buys Shares of 29,471 Innventure, Inc. $INV

Naviter Wealth LLC bought a new stake in Innventure, Inc. (NASDAQ:INV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 29,471 shares of the company’s stock, valued at approximately $141,000. Naviter Wealth LLC owned about 0.06% of Innventure at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new position in shares of Innventure in the 1st quarter valued at approximately $2,284,000. Abundance Wealth Counselors purchased a new position in shares of Innventure in the 2nd quarter valued at approximately $3,621,000. Belpointe Asset Management LLC purchased a new position in shares of Innventure in the 2nd quarter valued at approximately $486,000. Fortis Capital Advisors LLC purchased a new position in shares of Innventure in the 2nd quarter valued at approximately $52,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Innventure by 55.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 110,593 shares of the company’s stock valued at $853,000 after purchasing an additional 39,636 shares during the last quarter. 55.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Innventure in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $14.00.

Insider Activity at Innventure

In other news, Director Daniel J. Hennessy sold 10,828 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $5.21, for a total value of $56,413.88. Following the completion of the sale, the director directly owned 1,173,745 shares of the company’s stock, valued at $6,115,211.45. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 28,499 shares of company stock valued at $143,409. 23.13% of the stock is owned by company insiders.

Innventure Price Performance

INV opened at $3.32 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.29 and a quick ratio of 0.20. The business has a 50 day simple moving average of $5.10 and a 200-day simple moving average of $4.92. Innventure, Inc. has a 12 month low of $2.80 and a 12 month high of $14.95.

Innventure (NASDAQ:INV) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($0.17) by ($1.43). The business had revenue of $0.48 million during the quarter, compared to analyst estimates of $0.69 million. Innventure had a negative net margin of 20,429.67% and a negative return on equity of 33.64%.

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.