Quantamental Technologies LLC lessened its stake in shares of Inovalon Holdings Inc (NASDAQ:INOV) by 29.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,307 shares of the technology company’s stock after selling 1,801 shares during the quarter. Quantamental Technologies LLC’s holdings in Inovalon were worth $62,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new position in shares of Inovalon during the 1st quarter worth approximately $31,000. Russell Investments Group Ltd. bought a new position in Inovalon in the 2nd quarter valued at $49,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Inovalon in the 2nd quarter valued at $81,000. Advisor Group Inc. raised its position in Inovalon by 10.3% in the 2nd quarter. Advisor Group Inc. now owns 8,675 shares of the technology company’s stock valued at $125,000 after purchasing an additional 813 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Inovalon by 24.1% in the 2nd quarter. Bank of Montreal Can now owns 11,819 shares of the technology company’s stock valued at $171,000 after purchasing an additional 2,299 shares during the last quarter. Institutional investors and hedge funds own 32.81% of the company’s stock.
Several equities analysts have issued reports on INOV shares. Zacks Investment Research downgraded Inovalon from a “buy” rating to a “hold” rating in a research report on Saturday, August 24th. BidaskClub downgraded Inovalon from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. ValuEngine upgraded Inovalon from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on Inovalon from $14.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.00.
Shares of NASDAQ INOV traded up $0.01 during midday trading on Friday, hitting $17.51. The stock had a trading volume of 94,125 shares, compared to its average volume of 546,997. The company’s 50-day simple moving average is $16.17 and its 200 day simple moving average is $14.17. The firm has a market cap of $2.52 billion, a P/E ratio of 97.28, a price-to-earnings-growth ratio of 3.06 and a beta of 0.59. Inovalon Holdings Inc has a fifty-two week low of $9.19 and a fifty-two week high of $17.80. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.03 and a quick ratio of 2.03.
Inovalon (NASDAQ:INOV) last released its earnings results on Wednesday, July 31st. The technology company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The company had revenue of $156.98 million during the quarter, compared to analysts’ expectations of $155.72 million. Inovalon had a positive return on equity of 6.39% and a negative net margin of 2.70%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. Equities analysts expect that Inovalon Holdings Inc will post 0.38 EPS for the current fiscal year.
Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.
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