Parametric Portfolio Associates LLC Sells 1,080,746 Shares of Inovalon Holdings, Inc. (INOV)
Parametric Portfolio Associates LLC lessened its stake in shares of Inovalon Holdings, Inc. (NASDAQ:INOV) by 93.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,022 shares of the technology company’s stock after selling 1,080,746 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.06% of Inovalon Holdings worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. TIAA CREF Investment Management LLC increased its position in Inovalon Holdings by 40.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 191,994 shares of the technology company’s stock worth $2,525,000 after purchasing an additional 54,955 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Inovalon Holdings by 93.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 290,293 shares of the technology company’s stock valued at $3,818,000 after buying an additional 140,566 shares during the period. Bank of New York Mellon Corp grew its holdings in Inovalon Holdings by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 344,848 shares of the technology company’s stock valued at $4,535,000 after buying an additional 30,922 shares during the period. Alliancebernstein L.P. grew its holdings in Inovalon Holdings by 163.3% in the 2nd quarter. Alliancebernstein L.P. now owns 102,500 shares of the technology company’s stock valued at $1,348,000 after buying an additional 63,578 shares during the period. Finally, Teachers Advisors LLC grew its holdings in Inovalon Holdings by 109.7% in the 2nd quarter. Teachers Advisors LLC now owns 113,496 shares of the technology company’s stock valued at $1,492,000 after buying an additional 59,375 shares during the period. Hedge funds and other institutional investors own 28.61% of the company’s stock.
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Several analysts have commented on INOV shares. BidaskClub cut Inovalon Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 11th. ValuEngine upgraded Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Morgan Stanley upgraded Inovalon Holdings from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $9.00 to $14.00 in a report on Tuesday, September 12th. KeyCorp restated a “hold” rating on shares of Inovalon Holdings in a report on Tuesday, September 12th. Finally, TheStreet upgraded Inovalon Holdings from a “d+” rating to a “c-” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.00.
In other news, CEO Keith R. Dunleavy acquired 62,000 shares of Inovalon Holdings stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average cost of $16.38 per share, with a total value of $1,015,560.00. Following the purchase, the chief executive officer now directly owns 270,000 shares of the company’s stock, valued at approximately $4,422,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 48.28% of the company’s stock.
Inovalon Holdings, Inc. (NASDAQ:INOV) opened at $15.95 on Friday. The firm has a market capitalization of $2,300.00 and a PE ratio of 73.33. Inovalon Holdings, Inc. has a 52 week low of $8.60 and a 52 week high of $17.80. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.31.
Inovalon Holdings (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $115.90 million for the quarter, compared to analyst estimates of $114.79 million. Inovalon Holdings had a return on equity of 4.63% and a net margin of 4.07%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. sell-side analysts anticipate that Inovalon Holdings, Inc. will post 0.24 earnings per share for the current fiscal year.
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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