Brown Advisory Inc. Purchases Shares of 239,053 Inovalon Holdings Inc. (INOV)
Brown Advisory Inc. purchased a new position in shares of Inovalon Holdings Inc. (NASDAQ:INOV) during the second quarter, Holdings Channel reports. The firm purchased 239,053 shares of the company’s stock, valued at approximately $4,305,000. Brown Advisory Inc. owned about 0.16% of Inovalon Holdings as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in Inovalon Holdings by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 263,103 shares of the company’s stock worth $4,873,000 after buying an additional 55,440 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Inovalon Holdings by 76.9% in the first quarter. UBS Asset Management Americas Inc. now owns 19,100 shares of the company’s stock worth $354,000 after buying an additional 8,300 shares during the period. State Street Corp increased its stake in Inovalon Holdings by 17.2% in the first quarter. State Street Corp now owns 344,556 shares of the company’s stock worth $6,380,000 after buying an additional 50,572 shares during the period. Tiverton Asset Management LLC bought a new stake in Inovalon Holdings during the first quarter worth about $2,539,000. Finally, TLP Group LLC bought a new stake in Inovalon Holdings during the second quarter worth about $150,000. 32.04% of the stock is currently owned by institutional investors.
Inovalon Holdings Inc. (NASDAQ:INOV) traded down 0.50% on Tuesday, reaching $15.86. The company had a trading volume of 120,551 shares. The stock has a 50 day moving average of $15.74 and a 200 day moving average of $17.54. The firm has a market capitalization of $2.42 billion, a PE ratio of 53.58 and a beta of 1.06. Inovalon Holdings Inc. has a 12 month low of $13.85 and a 12 month high of $23.87.
Inovalon Holdings (NASDAQ:INOV) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.14 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. Inovalon Holdings had a return on equity of 7.51% and a net margin of 9.88%. The business had revenue of $123.80 million for the quarter, compared to analysts’ expectations of $126.86 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Inovalon Holdings Inc. will post $0.42 EPS for the current year.
A number of analysts recently issued reports on INOV shares. Zacks Investment Research upgraded shares of Inovalon Holdings from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, July 6th. TheStreet upgraded shares of Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 18th. William Blair downgraded shares of Inovalon Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, August 4th. Citigroup Inc. decreased their price objective on shares of Inovalon Holdings from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. downgraded shares of Inovalon Holdings from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $17.00 in a report on Thursday, August 4th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Inovalon Holdings currently has a consensus rating of “Hold” and a consensus price target of $18.50.
In related news, insider Daniel L. Rizzo sold 43,577 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $20.02, for a total value of $872,411.54. Following the transaction, the insider now owns 320,385 shares in the company, valued at $6,414,107.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William D. Green purchased 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 16th. The stock was acquired at an average price of $16.22 per share, for a total transaction of $486,600.00. Following the purchase, the director now owns 38,351 shares of the company’s stock, valued at approximately $622,053.22. The disclosure for this purchase can be found here. 50.71% of the stock is owned by corporate insiders.
Inovalon Holdings Company Profile
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. The Company operates through developing cloud-based data analytics and data-driven intervention platforms segment and provides related services to its clients.
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