Bamco Inc. NY Trims Position in Inovalon Holdings, Inc. (INOV)
Bamco Inc. NY lessened its position in shares of Inovalon Holdings, Inc. (NASDAQ:INOV) by 28.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,462,467 shares of the technology company’s stock after selling 1,357,349 shares during the quarter. Bamco Inc. NY owned 5.47% of Inovalon Holdings worth $45,531,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its position in Inovalon Holdings by 319.9% during the first quarter. Bank of Montreal Can now owns 13,945 shares of the technology company’s stock valued at $176,000 after acquiring an additional 10,624 shares during the last quarter. Laurion Capital Management LP purchased a new stake in Inovalon Holdings during the first quarter valued at $785,000. Karp Capital Management Corp purchased a new stake in Inovalon Holdings during the first quarter valued at $421,000. Goldman Sachs Group Inc. increased its position in Inovalon Holdings by 86.7% during the first quarter. Goldman Sachs Group Inc. now owns 472,597 shares of the technology company’s stock valued at $5,954,000 after acquiring an additional 219,465 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Inovalon Holdings during the first quarter valued at $1,290,000. Institutional investors own 28.67% of the company’s stock.
In related news, CEO Keith R. Dunleavy acquired 62,000 shares of Inovalon Holdings stock in a transaction on Wednesday, September 13th. The stock was acquired at an average price of $16.38 per share, for a total transaction of $1,015,560.00. Following the purchase, the chief executive officer now owns 270,000 shares of the company’s stock, valued at approximately $4,422,600. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 48.28% of the company’s stock.
INOV has been the subject of a number of research reports. BidaskClub upgraded Inovalon Holdings from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. KeyCorp reiterated a “hold” rating on shares of Inovalon Holdings in a research report on Tuesday, September 12th. Robert W. Baird reiterated a “neutral” rating and set a $12.00 price objective (up previously from $11.00) on shares of Inovalon Holdings in a research report on Friday, June 16th. Morgan Stanley upgraded Inovalon Holdings from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $9.00 to $14.00 in a research report on Tuesday, September 12th. Finally, ValuEngine upgraded Inovalon Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $14.17.
Shares of Inovalon Holdings, Inc. (NASDAQ:INOV) remained flat at $16.90 during mid-day trading on Friday. The stock had a trading volume of 49,984 shares. Inovalon Holdings, Inc. has a 1-year low of $8.60 and a 1-year high of $17.80. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 142.02 and a beta of 1.17. The stock has a 50-day moving average of $16.32 and a 200-day moving average of $16.32.
Inovalon Holdings (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. The business had revenue of $110.60 million during the quarter, compared to analyst estimates of $108.73 million. Inovalon Holdings had a return on equity of 5.17% and a net margin of 4.13%. The company’s revenue was down 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Analysts anticipate that Inovalon Holdings, Inc. will post $0.32 earnings per share for the current fiscal year.
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Inovalon Holdings 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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