Insider Buying: Inovalon Holdings Inc (INOV) Director Purchases $105,400.00 in Stock

Inovalon Holdings Inc (NASDAQ:INOV) Director Lee D. Roberts acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 8th. The stock was acquired at an average cost of $10.54 per share, for a total transaction of $105,400.00. Following the completion of the purchase, the director now directly owns 91,804 shares in the company, valued at $967,614.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Inovalon opened at $10.45 on Thursday, Marketbeat reports. Inovalon Holdings Inc has a fifty-two week low of $8.90 and a fifty-two week high of $17.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.48 and a current ratio of 4.48. The company has a market cap of $1.57 billion, a P/E ratio of 45.43, a PEG ratio of 3.79 and a beta of 1.02.

Inovalon (NASDAQ:INOV) last posted its quarterly earnings results on Tuesday, May 8th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). Inovalon had a return on equity of 2.50% and a net margin of 3.20%. The firm had revenue of $92.76 million for the quarter, compared to analyst estimates of $107.76 million. During the same period last year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. equities research analysts forecast that Inovalon Holdings Inc will post 0.19 earnings per share for the current year.

INOV has been the topic of a number of recent analyst reports. Wells Fargo & Co reissued a “market perform” rating and issued a $14.00 price objective (down from $16.00) on shares of Inovalon in a research note on Wednesday, February 21st. Zacks Investment Research raised Inovalon from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. ValuEngine downgraded Inovalon from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th. Morgan Stanley downgraded Inovalon from an “equal weight” rating to an “underweight” rating and set a $10.00 price target on the stock. in a research note on Wednesday, March 14th. Finally, TheStreet raised Inovalon from a “d+” rating to a “c” rating in a research note on Thursday, March 15th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Inovalon currently has an average rating of “Hold” and a consensus target price of $12.00.

A number of hedge funds have recently bought and sold shares of INOV. Schwab Charles Investment Management Inc. raised its stake in Inovalon by 3.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 317,267 shares of the technology company’s stock worth $4,760,000 after buying an additional 11,062 shares during the period. Engineers Gate Manager LP increased its holdings in Inovalon by 28.7% during the 4th quarter. Engineers Gate Manager LP now owns 55,191 shares of the technology company’s stock worth $828,000 after purchasing an additional 12,314 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Inovalon during the 4th quarter worth approximately $294,000. California Public Employees Retirement System bought a new stake in Inovalon during the 4th quarter worth approximately $485,000. Finally, Wells Fargo & Company MN increased its holdings in Inovalon by 26.5% during the 4th quarter. Wells Fargo & Company MN now owns 95,517 shares of the technology company’s stock worth $1,433,000 after purchasing an additional 20,033 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

About Inovalon

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.

Receive News & Ratings for Inovalon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovalon and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit