Inovalon Sees Unusually High Options Volume (NASDAQ:INOV)

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Inovalon Holdings Inc (NASDAQ:INOV) was the recipient of some unusual options trading activity on Wednesday. Investors bought 1,044 call options on the company. This is an increase of approximately 1,330% compared to the average daily volume of 73 call options.

Institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY increased its position in shares of Inovalon by 2.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 21,707 shares of the technology company’s stock worth $356,000 after acquiring an additional 614 shares during the period. First Business Financial Services Inc. increased its position in shares of Inovalon by 2.0% during the third quarter. First Business Financial Services Inc. now owns 36,616 shares of the technology company’s stock worth $600,000 after acquiring an additional 721 shares during the period. Advisor Group Inc. increased its position in shares of Inovalon by 10.3% during the second quarter. Advisor Group Inc. now owns 8,675 shares of the technology company’s stock worth $125,000 after acquiring an additional 813 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Inovalon by 2.3% during the second quarter. UBS Asset Management Americas Inc. now owns 45,669 shares of the technology company’s stock worth $663,000 after acquiring an additional 1,017 shares during the period. Finally, Aperio Group LLC increased its position in shares of Inovalon by 10.0% during the second quarter. Aperio Group LLC now owns 20,321 shares of the technology company’s stock worth $295,000 after acquiring an additional 1,848 shares during the period. 33.83% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Inovalon from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. ValuEngine raised shares of Inovalon from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. BidaskClub lowered shares of Inovalon from a “buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Morgan Stanley increased their price objective on shares of Inovalon from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, SunTrust Banks set a $22.00 price objective on shares of Inovalon and gave the stock a “buy” rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Inovalon currently has an average rating of “Hold” and an average target price of $18.20.

Inovalon stock traded up $0.30 during midday trading on Thursday, reaching $18.37. The stock had a trading volume of 9,228 shares, compared to its average volume of 491,907. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.47. Inovalon has a 52-week low of $11.50 and a 52-week high of $18.85. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 102.17, a price-to-earnings-growth ratio of 5.36 and a beta of 0.63. The company has a fifty day moving average of $16.82 and a 200 day moving average of $15.74.

Inovalon (NASDAQ:INOV) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Inovalon had a negative net margin of 1.37% and a positive return on equity of 7.11%. The company had revenue of $166.50 million for the quarter, compared to analyst estimates of $164.92 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts predict that Inovalon will post 0.42 EPS for the current year.

About Inovalon

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.

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