Thurston Springer Miller Herd & Titak Inc. Boosts Holdings in Inotiv, Inc. (NASDAQ:NOTV)

Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Inotiv, Inc. (NASDAQ:NOTV) by 612.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 127,257 shares of the company’s stock after buying an additional 109,397 shares during the period. Thurston Springer Miller Herd & Titak Inc. owned about 0.49% of Inotiv worth $527,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. KPP Advisory Services LLC grew its holdings in Inotiv by 4.5% during the second quarter. KPP Advisory Services LLC now owns 238,138 shares of the company’s stock worth $395,000 after acquiring an additional 10,347 shares during the period. Renaissance Technologies LLC boosted its position in Inotiv by 29.9% in the 2nd quarter. Renaissance Technologies LLC now owns 164,164 shares of the company’s stock worth $273,000 after purchasing an additional 37,800 shares in the last quarter. King Luther Capital Management Corp boosted its position in Inotiv by 101.4% in the 2nd quarter. King Luther Capital Management Corp now owns 198,600 shares of the company’s stock worth $330,000 after purchasing an additional 100,000 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Inotiv by 109.6% during the 2nd quarter. American Century Companies Inc. now owns 295,589 shares of the company’s stock worth $491,000 after purchasing an additional 154,541 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Inotiv by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 250,895 shares of the company’s stock valued at $427,000 after purchasing an additional 18,039 shares in the last quarter. Hedge funds and other institutional investors own 18.17% of the company’s stock.

Inotiv Stock Performance

Shares of NOTV stock opened at $4.26 on Thursday. The company has a market capitalization of $110.82 million, a P/E ratio of -1.02 and a beta of 3.59. Inotiv, Inc. has a 12-month low of $1.23 and a 12-month high of $11.42. The business’s 50 day moving average is $4.00 and its two-hundred day moving average is $2.52. The company has a current ratio of 1.37, a quick ratio of 1.22 and a debt-to-equity ratio of 2.29.

Analysts Set New Price Targets

Separately, Lake Street Capital upgraded shares of Inotiv from a “hold” rating to a “buy” rating and raised their price target for the company from $2.00 to $4.00 in a research report on Monday, September 30th.

Insider Activity at Inotiv

In other news, Director David Landman acquired 23,529 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $4.25 per share, for a total transaction of $99,998.25. Following the acquisition, the director now owns 176,851 shares in the company, valued at approximately $751,616.75. This represents a 15.35 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nigel Brown acquired 7,500 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average price of $4.26 per share, for a total transaction of $31,950.00. Following the completion of the acquisition, the director now owns 65,537 shares in the company, valued at $279,187.62. The trade was a 12.92 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 71,029 shares of company stock valued at $314,248. 5.80% of the stock is owned by company insiders.

About Inotiv

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.