Inuvo (NYSEAMERICAN:INUV) Lifted to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Inuvo (NYSEAMERICAN:INUV) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Inuvo is an Internet marketing and technology company that delivers purchase-ready customers to advertisers through a broad network of websites and applications reaching both desktop and mobile devices. They deliver content and targeted advertisements over the internet and generate revenue when an end user clicks on the advertisements they delivered. They manage their business as two segments, the Partner Network and the Owned and Operated Network. The Partner Network delivers advertisements to their partners’ websites and applications on desktop, tablet and mobile devices. Their proprietary technology platform allows for targeted distribution of advertisements at a scale that measures in the hundreds of millions of advertisements delivered monthly. The Owned and Operated Network designs, builds and markets consumer websites and applications. This segment consists of their mobile-ready ALOT websites and is focused on providing engaging content to their users. “

Shares of Inuvo stock opened at $0.23 on Tuesday. Inuvo has a fifty-two week low of $0.19 and a fifty-two week high of $1.75.

Inuvo (NYSEAMERICAN:INUV) last issued its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. The firm had revenue of $14.05 million during the quarter, compared to analyst estimates of $13.30 million.

In other news, Director Charles D. Morgan acquired 1,650,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was acquired at an average price of $0.30 per share, for a total transaction of $495,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. raised its position in shares of Inuvo by 1.7% during the 1st quarter. Perkins Capital Management Inc. now owns 652,527 shares of the technology company’s stock worth $809,000 after purchasing an additional 11,082 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Inuvo during the 4th quarter worth about $42,000. Vanguard Group Inc. raised its position in shares of Inuvo by 8.0% during the 2nd quarter. Vanguard Group Inc. now owns 626,882 shares of the technology company’s stock worth $264,000 after purchasing an additional 46,199 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Inuvo by 10.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,885,189 shares of the technology company’s stock worth $792,000 after purchasing an additional 171,999 shares during the last quarter.

About Inuvo

Inuvo, Inc, together with its subsidiaries, a technology company, provides data-driven platforms that automatically identify and message online audiences across video, mobile, connected TV, display, and social and native devices, channels, and formats in the United States. The company's digital marketplace allows advertisers and publishers the opportunity to buy and sell advertising space in real time.

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