Inovalon Holdings Inc. (INOV) Short Interest Update
Inovalon Holdings Inc. (NASDAQ:INOV) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 10,436,666 shares, a growth of 18.4% from the October 31st total of 8,811,113 shares. Based on an average daily trading volume, of 752,092 shares, the short-interest ratio is currently 13.9 days. Currently, 17.8% of the shares of the stock are short sold.
In related news, CFO Thomas R. Kloster sold 109,899 shares of Inovalon Holdings stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $15.53, for a total transaction of $1,706,731.47. Following the completion of the transaction, the chief financial officer now directly owns 10,050 shares of the company’s stock, valued at approximately $156,076.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William D. Green purchased 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The shares were purchased at an average cost of $16.22 per share, with a total value of $486,600.00. Following the completion of the purchase, the director now owns 38,351 shares in the company, valued at approximately $622,053.22. The disclosure for this purchase can be found here. 50.71% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of INOV. Black Creek Investment Management Inc. boosted its stake in shares of Inovalon Holdings by 11.7% in the second quarter. Black Creek Investment Management Inc. now owns 4,876,456 shares of the company’s stock worth $87,825,000 after buying an additional 508,868 shares during the period. Vanguard Group Inc. boosted its stake in shares of Inovalon Holdings by 32.9% in the second quarter. Vanguard Group Inc. now owns 4,649,193 shares of the company’s stock worth $83,731,000 after buying an additional 1,150,802 shares during the period. Riverbridge Partners LLC boosted its stake in shares of Inovalon Holdings by 5.0% in the third quarter. Riverbridge Partners LLC now owns 3,524,542 shares of the company’s stock worth $51,846,000 after buying an additional 169,174 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Inovalon Holdings by 0.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,527,317 shares of the company’s stock worth $22,467,000 after buying an additional 11,089 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in shares of Inovalon Holdings by 4.1% in the second quarter. Neuberger Berman Group LLC now owns 1,477,144 shares of the company’s stock worth $26,603,000 after buying an additional 58,058 shares during the period. Institutional investors and hedge funds own 32.27% of the company’s stock.
Shares of Inovalon Holdings (NASDAQ:INOV) opened at 15.95 on Monday. Inovalon Holdings has a one year low of $13.30 and a one year high of $20.63. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 56.96 and a beta of 1.08. The company’s 50-day moving average is $14.59 and its 200-day moving average is $16.37.
Inovalon Holdings (NASDAQ:INOV) last issued its earnings results on Wednesday, November 2nd. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.04. The business earned $105.01 million during the quarter, compared to analysts’ expectations of $102.38 million. Inovalon Holdings had a net margin of 9.37% and a return on equity of 7.79%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share. On average, equities analysts predict that Inovalon Holdings will post $0.44 EPS for the current year.
A number of equities analysts recently commented on INOV shares. Zacks Investment Research raised shares of Inovalon Holdings from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, October 17th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Inovalon Holdings in a research note on Wednesday, September 28th. First Analysis started coverage on shares of Inovalon Holdings in a research note on Monday, October 24th. They set an “equal weight” rating and a $14.00 price target for the company. William Blair cut shares of Inovalon Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 4th. Finally, Citigroup Inc. dropped their price target on shares of Inovalon Holdings from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, August 4th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Inovalon Holdings has an average rating of “Hold” and a consensus price target of $16.78.
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About Inovalon Holdings
Inovalon Holdings, Inc is a technology company. The Company combines advanced cloud-based data analytics and data-driven intervention platforms to provide services for health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. The Company operates through developing cloud-based data analytics and data-driven intervention platforms segment and provides related services to its clients.
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