Bay Colony Advisory Group Inc d b a Bay Colony Advisors Makes New $278,000 Investment in Innodata Inc. (NASDAQ:INOD)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Innodata Inc. (NASDAQ:INOD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,024 shares of the technology company’s stock, valued at approximately $278,000.

A number of other large investors have also bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Innodata during the fourth quarter valued at approximately $483,000. SBI Securities Co. Ltd. purchased a new position in shares of Innodata during the fourth quarter valued at approximately $150,000. Bank of New York Mellon Corp increased its stake in shares of Innodata by 30.7% during the fourth quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company’s stock valued at $2,854,000 after buying an additional 16,961 shares during the period. Principal Financial Group Inc. increased its stake in shares of Innodata by 9.9% during the fourth quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company’s stock valued at $806,000 after buying an additional 1,828 shares during the period. Finally, Allworth Financial LP purchased a new position in shares of Innodata during the fourth quarter valued at approximately $29,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of the transaction, the director now owns 209,194 shares of the company’s stock, valued at $9,204,536. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 385,634 shares of company stock valued at $22,639,902. 15.23% of the stock is currently owned by corporate insiders.

Innodata Trading Up 2.0 %

Innodata stock opened at $47.25 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $44.06 and its two-hundred day simple moving average is $32.76. Innodata Inc. has a 12 month low of $5.46 and a 12 month high of $71.00. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 55.59 and a beta of 2.59.

Innodata (NASDAQ:INOD) last released its earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $59.18 million for the quarter, compared to the consensus estimate of $53.01 million. As a group, equities analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Chardan Capital restated a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. BWS Financial lifted their price target on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wedbush initiated coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, Maxim Group lifted their price target on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.00.

About Innodata

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.