Inovalon Holdings, Inc. (INOV) CEO Buys $1,015,560.00 in Stock
Inovalon Holdings, Inc. (NASDAQ:INOV) CEO Keith R. Dunleavy acquired 62,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were acquired at an average price of $16.38 per share, with a total value of $1,015,560.00. Following the acquisition, the chief executive officer now owns 270,000 shares in the company, valued at $4,422,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Inovalon Holdings, Inc. (NASDAQ INOV) traded up 3.40% during midday trading on Thursday, hitting $16.75. The company’s stock had a trading volume of 222,841 shares. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 140.76 and a beta of 1.17. Inovalon Holdings, Inc. has a 12-month low of $8.60 and a 12-month high of $17.80. The firm has a 50-day moving average of $15.88 and a 200 day moving average of $13.06.
Inovalon Holdings (NASDAQ:INOV) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the 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 return on equity of 5.17% and a net margin of 4.13%. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. On average, equities research analysts predict that Inovalon Holdings, Inc. will post $0.32 EPS for the current fiscal year.
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A number of research firms recently issued reports on INOV. Robert W. Baird restated a “neutral” rating and set a $12.00 price objective (up previously from $11.00) on shares of Inovalon Holdings in a report on Friday, June 16th. KeyCorp restated a “hold” rating on shares of Inovalon Holdings in a report on Tuesday. BidaskClub cut Inovalon Holdings from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley upgraded Inovalon Holdings from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $9.00 to $14.00 in a report on Tuesday. Finally, ValuEngine upgraded Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Inovalon Holdings has an average rating of “Hold” and an average target price of $14.17.
A number of hedge funds have recently bought and sold shares of INOV. Neuberger Berman Group LLC increased its stake in Inovalon Holdings by 183.1% during the first quarter. Neuberger Berman Group LLC now owns 1,938,715 shares of the technology company’s stock worth $24,428,000 after acquiring an additional 1,253,887 shares during the last quarter. Black Creek Investment Management Inc. increased its stake in Inovalon Holdings by 13.6% during the first quarter. Black Creek Investment Management Inc. now owns 9,772,435 shares of the technology company’s stock worth $123,133,000 after acquiring an additional 1,171,150 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Inovalon Holdings by 2,014.6% during the first quarter. Parametric Portfolio Associates LLC now owns 1,161,768 shares of the technology company’s stock worth $14,638,000 after acquiring an additional 1,106,827 shares during the last quarter. State Street Corp increased its stake in Inovalon Holdings by 59.1% during the second quarter. State Street Corp now owns 1,151,392 shares of the technology company’s stock worth $15,140,000 after acquiring an additional 427,528 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in Inovalon Holdings during the second quarter worth $234,000. 28.67% of the stock is owned by institutional investors.
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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