Fox Run Management L.L.C. Has $196,000 Stake in Inovalon Holdings, Inc. (INOV)
Fox Run Management L.L.C. raised its position in shares of Inovalon Holdings, Inc. (NASDAQ:INOV) by 27.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,900 shares of the technology company’s stock after buying an additional 3,200 shares during the period. Fox Run Management L.L.C.’s holdings in Inovalon Holdings were worth $196,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Cowen Prime Services LLC acquired a new stake in Inovalon Holdings during the first quarter worth about $3,129,000. Parametric Portfolio Associates LLC increased its stake in Inovalon Holdings by 2,014.6% in the first quarter. Parametric Portfolio Associates LLC now owns 1,161,768 shares of the technology company’s stock worth $14,638,000 after buying an additional 1,106,827 shares during the period. Engineers Gate Manager LP acquired a new stake in Inovalon Holdings during the first quarter worth about $932,000. Bell Bank increased its stake in Inovalon Holdings by 4.9% in the first quarter. Bell Bank now owns 13,050 shares of the technology company’s stock worth $164,000 after buying an additional 605 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in Inovalon Holdings during the first quarter worth about $421,000. Institutional investors own 29.52% of the company’s stock.
Inovalon Holdings, Inc. (NASDAQ:INOV) traded down 0.38% during trading on Friday, reaching $12.95. 249,207 shares of the company’s stock were exchanged. Inovalon Holdings, Inc. has a 12 month low of $8.60 and a 12 month high of $16.64. The firm’s 50-day moving average price is $13.08 and its 200-day moving average price is $12.65. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 108.82 and a beta of 1.19.
Inovalon Holdings (NASDAQ:INOV) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Inovalon Holdings had a return on equity of 5.17% and a net margin of 4.13%. The company had revenue of $110.60 million during the quarter, compared to analyst estimates of $108.73 million. During the same quarter last year, the firm posted $0.14 EPS. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. On average, equities research analysts anticipate that Inovalon Holdings, Inc. will post $0.31 EPS for the current year.
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A number of research firms have recently issued reports on INOV. Zacks Investment Research upgraded shares of Inovalon Holdings from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, May 9th. Robert W. Baird restated a “neutral” rating and set a $12.00 target price (up from $11.00) on shares of Inovalon Holdings in a report on Friday, June 16th. Finally, BidaskClub upgraded shares of Inovalon Holdings from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Inovalon Holdings has a consensus rating of “Hold” and a consensus price target of $14.20.
In related news, insider Shauna L. Vernal sold 19,332 shares of Inovalon Holdings stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $13.60, for a total value of $262,915.20. Following the completion of the sale, the insider now owns 66,261 shares of the company’s stock, valued at approximately $901,149.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 48.28% of the company’s stock.
About Inovalon Holdings
Inovalon Holdings, Inc (Inovalon) is a technology company. The Company provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models to the healthcare industry. Leveraging large-scale data interconnectivity capabilities, unparalleled proprietary data sets, advanced analytics, data-driven intervention systems, and subject matter expertise, Inovalon enables the assessment and improvement of clinical and quality outcomes and financial performance across the healthcare ecosystem.
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