Transaction Overview
SIT Investment Associates Inc, a notable investment management firm, has recently adjusted its holdings in Invesco High Income 2024 Target Term (IHTA, Financial). On November 15, 2023, the firm reduced its position in IHTA by 143,658 shares, resulting in a 24.79% decrease from its previous holding. This transaction had a minor impact of -0.03% on the firm's portfolio, with the trade executed at a price of $6.71 per share. Following the trade, SIT Investment Associates Inc's remaining stake in IHTA stands at 435,855 shares, which represents 4.96% of their holdings and 0.08% of their portfolio.
Profile of SIT Investment Associates Inc
Founded in 1981 by Eugene C. Sit, SIT Investment Associates Inc has grown from a modest beginning to a firm managing over $6.6 billion in assets. The Minneapolis-based company, primarily owned by the Sit family and key executives, employs 73 individuals, including 36 investment professionals. Under the leadership of CEO and CIO Roger J. Sit, the firm employs quantitative and fundamental methodologies to invest across global fixed income and public equity markets. With a diverse client base, SIT Investment Associates Inc's portfolio is most heavily invested in the financial services and technology sectors. The firm's top holdings include Cornerstone Strategic Value Fund Inc (CLM, Financial), Apple Inc (AAPL, Financial), Broadcom Inc (AVGO, Financial), Microsoft Corp (MSFT, Financial), and Putnam Premier Income Trust (PPT, Financial). 
Invesco High Income 2024 Target Term (IHTA, Financial) Overview
Invesco High Income 2024 Target Term, trading under the symbol IHTA in the USA, is a non-diversified, closed-end management investment company that debuted on November 30, 2017. IHTA aims to provide high current income and plans to return approximately $9.835 per share to common shareholders by its termination date. The company's investment portfolio includes securities collateralized by loans secured by real properties and other real estate-related debt securities. 
Trade Impact Analysis
The recent reduction in IHTA shares by SIT Investment Associates Inc has slightly decreased the firm's exposure to the asset management industry. With the trade price at $6.71 and the remaining shares totaling 435,855, the firm maintains a significant but reduced position in IHTA, which aligns with its investment strategy and portfolio diversification goals.
IHTA's Financial and Market Performance
IHTA's market capitalization stands at approximately $58.957 million, with a current stock price of $6.71. The company's financial metrics, such as the PE percentage, are not applicable as it is currently not profitable. The GF Score of IHTA is 33 out of 100, indicating poor future performance potential. Since its IPO, the stock has seen a price decline of 26.34%, with a year-to-date drop of 17.06%.
Market Position and Financial Health of IHTA
In the asset management industry, IHTA's competitive standing is reflected in its Financial Strength and Profitability Ranks. The company's Financial Strength is rated at 5 out of 10, while its Profitability Rank is lower at 2 out of 10. IHTA's Growth Rank is not applicable, indicating no significant growth in recent years. The company's balance sheet shows a Cash to Debt ratio of 0.01, placing it at rank 1408 in this category.
Investment Considerations for Value Investors
For value investors, IHTA's valuation and future performance potential are critical considerations. The stock's Momentum Rank and Relative Strength Index (RSI) ranks suggest that it may not be in a strong position for immediate investment. However, investors should also consider the company's long-term objectives and the potential for income generation as part of their overall investment strategy.
Conclusion
The recent transaction by SIT Investment Associates Inc in Invesco High Income 2024 Target Term reflects a strategic adjustment in the firm's portfolio. While the impact on the firm's holdings is minimal, the trade offers insights into the firm's investment decisions and considerations for value investors looking at IHTA. With its current market position and financial performance, IHTA presents a unique profile for investors seeking income-generating opportunities with a defined time horizon.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
