Inovalon Holdings Inc. (INOV) Sees Strong Trading Volume
Shares of Inovalon Holdings Inc. (NASDAQ:INOV) saw unusually-strong trading volume on Friday . Approximately 2,041,326 shares were traded 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 equities analysts recently issued reports on INOV shares. KeyCorp reiterated a “buy” rating and issued a $26.00 price target on shares of Inovalon Holdings in a report on Sunday, May 22nd. Zacks Investment Research raised Inovalon Holdings from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, July 6th. TheStreet raised Inovalon Holdings from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. William Blair lowered Inovalon Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Robert W. Baird lowered Inovalon Holdings from an “outperform” rating to a “neutral” rating and cut their target price for the company from $22.00 to $21.00 in a research note on Thursday, April 21st. Two 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’s stock. The company currently 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 P/E ratio of 40.00. The company has a 50 day moving average price of $18.17 and a 200-day moving average price of $17.97.
Inovalon Holdings (NASDAQ:INOV) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. During the same period last year, the firm posted $0.18 EPS. The business had revenue of $123.80 million for the quarter, compared to analyst estimates of $126.86 million. Inovalon Holdings’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Inovalon Holdings Inc. will post $0.49 EPS for the current year.
In related news, insider Daniel L. Rizzo sold 43,577 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $20.02, for a total transaction of $872,411.54. Following the sale, the insider now owns 320,385 shares in the company, valued at approximately $6,414,107.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith R. Dunleavy acquired 30,000 shares of Inovalon Holdings stock in a transaction that occurred on Monday, May 9th. The shares were purchased at an average price of $16.68 per share, for a total transaction of $500,400.00. Following the transaction, the chief executive officer now directly owns 53,147 shares in the company, valued at $886,491.96. The disclosure for this purchase can be found here.
A number of large investors have recently modified their holdings of INOV. Schroder Investment Management Group raised its stake in shares of Inovalon Holdings by 384.4% in the fourth quarter. Schroder Investment Management Group now owns 223,800 shares of the company’s stock worth $3,805,000 after buying an additional 177,600 shares in the last quarter. Russell Frank Co raised its stake in shares of Inovalon Holdings by 29.1% in the fourth quarter. Russell Frank Co now owns 237,767 shares of the company’s stock worth $4,094,000 after buying an additional 53,651 shares in the last quarter. Finally, Eaton Vance Management purchased a new stake in shares of Inovalon Holdings during the fourth quarter worth $4,908,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.