First Quadrant L P CA lowered its position in shares of Inovalon Holdings, Inc. (NASDAQ:INOV) by 57.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 176,690 shares of the technology company’s stock after selling 234,886 shares during the period. First Quadrant L P CA owned about 0.12% of Inovalon Holdings worth $2,323,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cowen Prime Services LLC purchased a new position in Inovalon Holdings during the first quarter worth approximately $3,129,000. Parametric Portfolio Associates LLC raised its position in Inovalon Holdings by 2,014.6% in the first quarter. Parametric Portfolio Associates LLC now owns 1,161,768 shares of the technology company’s stock worth $14,638,000 after buying an additional 1,106,827 shares during the period. Engineers Gate Manager LP purchased a new position in Inovalon Holdings during the first quarter worth approximately $932,000. Bell Bank raised its position in Inovalon Holdings by 4.9% in the first quarter. Bell Bank now owns 13,050 shares of the technology company’s stock worth $164,000 after buying an additional 605 shares during the period. Finally, Karp Capital Management Corp purchased a new position in Inovalon Holdings during the first quarter worth approximately $421,000. Hedge funds and other institutional investors own 29.52% of the company’s stock.
Inovalon Holdings, Inc. (INOV) traded down 0.38% during mid-day trading on Friday, hitting $12.95. 249,207 shares of the stock were exchanged. The stock has a market capitalization of $1.89 billion, a PE ratio of 108.82 and a beta of 1.19. The company has a 50-day moving average of $13.08 and a 200-day moving average of $12.65. Inovalon Holdings, Inc. has a 52 week low of $8.60 and a 52 week high of $16.64.
Inovalon Holdings (NASDAQ:INOV) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The company had revenue of $110.60 million during the quarter, compared to analysts’ expectations of $108.73 million. Inovalon Holdings had a net margin of 4.13% and a return on equity of 5.17%. Inovalon Holdings’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period last year, the company posted $0.14 earnings per share. On average, equities analysts predict that Inovalon Holdings, Inc. will post $0.31 EPS for the current fiscal year.
A number of research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Inovalon Holdings from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Tuesday, May 9th. Robert W. Baird reaffirmed a “neutral” rating and set a $12.00 price objective (up from $11.00) on shares of Inovalon Holdings in a report on Friday, June 16th. Finally, BidaskClub raised shares of Inovalon Holdings from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.20.
In related news, insider Shauna L. Vernal sold 19,332 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $13.60, for a total transaction of $262,915.20. Following the completion of the transaction, the insider now directly owns 66,261 shares of the company’s stock, valued at $901,149.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 48.28% of the company’s stock.
Inovalon Holdings Company Profile
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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