Mangrove Partners IM LLC Has $66.12 Million Stock Position in Indivior PLC $INDV

Mangrove Partners IM LLC raised its stake in Indivior PLC (NASDAQ:INDV) by 20.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,742,434 shares of the company’s stock after buying an additional 469,766 shares during the period. Indivior comprises 5.5% of Mangrove Partners IM LLC’s holdings, making the stock its biggest holding. Mangrove Partners IM LLC’s holdings in Indivior were worth $66,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in shares of Indivior by 18.4% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,996 shares of the company’s stock worth $79,757,000 after acquiring an additional 1,299,425 shares during the period. Jane Street Group LLC boosted its holdings in shares of Indivior by 2,597.9% in the first quarter. Jane Street Group LLC now owns 995,013 shares of the company’s stock valued at $9,327,000 after purchasing an additional 958,132 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Indivior in the second quarter worth approximately $768,000. ProShare Advisors LLC bought a new position in Indivior in the second quarter worth approximately $435,000. Finally, Geode Capital Management LLC increased its holdings in Indivior by 1,122.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,576,915 shares of the company’s stock worth $23,244,000 after purchasing an additional 1,447,939 shares during the period. 60.33% of the stock is currently owned by institutional investors.

Indivior Price Performance

Shares of NASDAQ:INDV opened at $31.11 on Friday. The business’s 50-day moving average is $33.73 and its 200 day moving average is $30.58. Indivior PLC has a 1 year low of $8.64 and a 1 year high of $38.00. The firm has a market capitalization of $3.89 billion, a P/E ratio of 18.97 and a beta of 0.83.

Indivior (NASDAQ:INDV) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. Indivior had a negative return on equity of 148.76% and a net margin of 16.85%.The business had revenue of $358.00 million for the quarter, compared to analyst estimates of $305.62 million. On average, analysts expect that Indivior PLC will post 1.22 EPS for the current year.

Wall Street Analyst Weigh In

INDV has been the subject of several research reports. Northland Securities set a $50.00 target price on Indivior in a report on Tuesday, January 20th. HC Wainwright lifted their price objective on Indivior from $35.00 to $48.00 and gave the company a “buy” rating in a report on Monday, January 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 price objective on shares of Indivior in a research note on Wednesday, December 3rd. Weiss Ratings upgraded shares of Indivior from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Zacks Research downgraded shares of Indivior from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Indivior currently has a consensus rating of “Moderate Buy” and an average price target of $39.33.

Insider Buying and Selling

In related news, Director Mark Stejbach bought 775 shares of the company’s stock in a transaction on Monday, January 5th. The shares were bought at an average price of $35.39 per share, with a total value of $27,427.25. Following the transaction, the director owned 16,847 shares in the company, valued at approximately $596,215.33. This trade represents a 4.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel A. Ninivaggi purchased 775 shares of the business’s stock in a transaction on Monday, January 5th. The shares were bought at an average price of $35.39 per share, for a total transaction of $27,427.25. Following the purchase, the director directly owned 16,923 shares in the company, valued at $598,904.97. This represents a 4.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 5,842 shares of company stock worth $203,342 over the last ninety days.

About Indivior

Indivior plc is a specialty pharmaceutical company dedicated to developing and delivering treatments for addiction and related mental health disorders. The company’s portfolio centers on therapies designed to support individuals dealing with opioid dependence, alcohol use disorder and other behavioral health challenges. Its lead products include Suboxone® (buprenorphine and naloxone) sublingual film and Sublocade® (extended-release buprenorphine) injection, both of which are approved in multiple markets to aid in opioid use disorder management.

Indivior was established in 2014 through a demerger from the pharmaceuticals division of Reckitt Benckiser Group plc, inheriting decades of research and commercial expertise in addiction medicine.