Inovalon Holdings Inc. (INOV) Sees Large Volume Increase
Shares of Inovalon Holdings Inc. (NASDAQ:INOV) saw unusually-high trading volume on Friday . Approximately 2,041,326 shares traded hands during mid-day trading, an increase of 162% from the previous session’s volume of 777,825 shares.The stock last traded at $14.60 and had previously closed at $14.03.
Several research analysts have recently issued reports on INOV shares. Robert W. Baird downgraded shares of Inovalon Holdings from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $21.00 in a report on Thursday, April 21st. TheStreet upgraded shares of Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 18th. KeyCorp restated a “buy” rating and set a $26.00 price objective on shares of Inovalon Holdings in a report on Sunday, May 22nd. Zacks Investment Research upgraded shares of Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Monday, May 30th. Finally, Piper Jaffray Cos. downgraded shares of Inovalon Holdings from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $14.00 to $11.00 in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $19.25.
The firm has a market cap of $2.22 billion and a price-to-earnings ratio of 40.00. The firm’s 50 day moving average price is $18.17 and its 200-day moving average price is $17.97.
Inovalon Holdings (NASDAQ:INOV) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. The firm earned $123.80 million during the quarter, compared to analyst estimates of $126.86 million. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. Equities analysts expect that Inovalon Holdings Inc. will post $0.47 EPS for the current year.
In other Inovalon Holdings news, insider Daniel L. Rizzo sold 43,577 shares of the stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $20.02, for a total value of $872,411.54. Following the completion of the sale, the insider now owns 320,385 shares in the company, valued at $6,414,107.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith R. Dunleavy purchased 30,000 shares of the business’s stock in a transaction on Monday, May 9th. The stock was purchased at an average price of $16.68 per share, with a total value of $500,400.00. Following the purchase, the chief executive officer now owns 53,147 shares of the company’s stock, valued at $886,491.96. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Inovalon Holdings stock. Schroder Investment Management Group boosted its position in shares of Inovalon Holdings Inc. (NASDAQ:INOV) by 384.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 223,800 shares of the company’s stock after buying an additional 177,600 shares during the period. Schroder Investment Management Group owned 0.15% of Inovalon Holdings worth $3,805,000 as of its most recent SEC filing.
Inovalon Holdings, Inc is a technology company. The Company combines advanced cloud-based data analytics and data-driven intervention platforms to provide services for health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. Through its datasets, integration technologies, predictive analytics and subject matter expertise, the Company delivers platforms.
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