OP Asset Management Ltd Buys New Position in Innodata Inc. $INOD

OP Asset Management Ltd bought a new stake in shares of Innodata Inc. (NASDAQ:INOD) in the 1st quarter, HoldingsChannel reports. The firm bought 7,670 shares of the technology company’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of INOD. RFG Advisory LLC purchased a new stake in shares of Innodata during the 4th quarter valued at $5,750,000. WINTON GROUP Ltd purchased a new position in Innodata in the third quarter worth $1,834,000. Bleakley Financial Group LLC purchased a new position in Innodata in the fourth quarter worth $900,000. UBS Group AG increased its stake in Innodata by 37.1% in the fourth quarter. UBS Group AG now owns 350,928 shares of the technology company’s stock valued at $17,880,000 after acquiring an additional 95,002 shares during the last quarter. Finally, Next Century Growth Investors LLC increased its stake in Innodata by 107.5% in the fourth quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company’s stock valued at $18,639,000 after acquiring an additional 189,488 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on INOD. Wall Street Zen raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Wedbush increased their price objective on Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Weiss Ratings raised Innodata from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 3rd. Finally, BWS Financial restated a “buy” rating on shares of Innodata in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Innodata has an average rating of “Moderate Buy” and a consensus target price of $130.00.

Insider Activity

In other news, COO Ashok Mishra sold 38,666 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $114.34, for a total transaction of $4,421,070.44. Following the completion of the sale, the chief operating officer directly owned 83,179 shares in the company, valued at approximately $9,510,686.86. This represents a 31.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jack Abuhoff sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $110.20, for a total value of $22,040,000.00. Following the completion of the sale, the chief executive officer directly owned 1,340,456 shares in the company, valued at $147,718,251.20. The trade was a 12.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,472,885 shares of company stock worth $143,998,492 in the last quarter. Insiders own 11.80% of the company’s stock.

Innodata Stock Performance

Shares of INOD stock opened at $75.58 on Wednesday. The company has a market capitalization of $2.47 billion, a P/E ratio of 68.09 and a beta of 2.83. Innodata Inc. has a fifty-two week low of $34.23 and a fifty-two week high of $125.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a 50 day moving average price of $83.43 and a two-hundred day moving average price of $61.05.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.34. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The firm had revenue of $90.10 million for the quarter, compared to analysts’ expectations of $76.47 million. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue was up 54.5% on a year-over-year basis. Analysts expect that Innodata Inc. will post 1.14 earnings per share for the current year.

Innodata Profile

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.