Dimensional Fund Advisors LP acquired a new stake in Inovalon Holdings, Inc. (NASDAQ:INOV) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 51,614 shares of the technology company’s stock, valued at approximately $650,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in Inovalon Holdings by 0.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 88,401 shares of the technology company’s stock valued at $1,116,000 after acquiring an additional 225 shares in the last quarter. Stifel Financial Corp increased its holdings in Inovalon Holdings by 2.4% during the 1st quarter. Stifel Financial Corp now owns 30,821 shares of the technology company’s stock valued at $382,000 after acquiring an additional 726 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Inovalon Holdings by 5.8% during the first quarter. Alliancebernstein L.P. now owns 38,922 shares of the technology company’s stock worth $490,000 after buying an additional 2,130 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Inovalon Holdings by 319.9% during the first quarter. Bank of Montreal Can now owns 13,945 shares of the technology company’s stock worth $176,000 after buying an additional 10,624 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Inovalon Holdings by 4.0% during the first quarter. Geode Capital Management LLC now owns 500,364 shares of the technology company’s stock worth $6,304,000 after buying an additional 19,367 shares in the last quarter. Hedge funds and other institutional investors own 28.67% of the company’s stock.
In other Inovalon Holdings news, CEO Keith R. Dunleavy purchased 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was bought at an average cost of $16.38 per share, with a total value of $1,015,560.00. Following the completion of the transaction, the chief executive officer now owns 270,000 shares of the company’s stock, valued at approximately $4,422,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 48.28% of the company’s stock.
Shares of Inovalon Holdings, Inc. (NASDAQ INOV) opened at 16.70 on Friday. The firm has a market capitalization of $2.44 billion, a P/E ratio of 140.34 and a beta of 1.17. Inovalon Holdings, Inc. has a one year low of $8.60 and a one year high of $17.80. The firm has a 50-day moving average of $16.32 and a 200-day moving average of $16.32.
Inovalon Holdings (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. The company had revenue of $110.60 million during the quarter, compared to the consensus estimate of $108.73 million. Inovalon Holdings had a return on equity of 5.17% and a net margin of 4.13%. Inovalon Holdings’s revenue was down 10.7% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. On average, equities analysts predict that Inovalon Holdings, Inc. will post $0.32 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $12.00 price target (up from $11.00) on shares of Inovalon Holdings in a research report on Friday, June 16th. BidaskClub cut shares of Inovalon Holdings from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. KeyCorp reissued a “hold” rating on shares of Inovalon Holdings in a research report on Tuesday, September 12th. Morgan Stanley raised shares of Inovalon Holdings from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $9.00 to $14.00 in a research report on Tuesday, September 12th. Finally, ValuEngine raised shares of Inovalon Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Inovalon Holdings currently has a consensus rating of “Hold” and a consensus target price of $14.17.
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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