Keith R. Dunleavy Acquires 118,000 Shares of Inovalon (INOV) Stock

Inovalon (NASDAQ:INOV) CEO Keith R. Dunleavy bought 118,000 shares of the stock in a transaction dated Wednesday, May 16th. The shares were bought at an average price of $9.91 per share, for a total transaction of $1,169,380.00. Following the completion of the acquisition, the chief executive officer now owns 318,753 shares in the company, valued at $3,158,842.23. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Inovalon opened at $10.20 on Friday, according to Marketbeat Ratings. Inovalon has a one year low of $9.80 and a one year high of $9.90. The company has a market capitalization of $1.43 billion, a P/E ratio of 82.50, a price-to-earnings-growth ratio of 3.65 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.48 and a current ratio of 4.48.

Inovalon (NASDAQ:INOV) last released its quarterly earnings data on Tuesday, May 8th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). Inovalon had a net margin of 3.20% and a return on equity of 2.50%. The business had revenue of $92.76 million during the quarter, compared to analyst estimates of $107.76 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s revenue was down 14.4% on a year-over-year basis. analysts anticipate that Inovalon will post 0.19 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC acquired a new position in Inovalon in the fourth quarter valued at approximately $150,000. Creative Planning acquired a new position in Inovalon in the fourth quarter valued at approximately $152,000. Victory Capital Management Inc. acquired a new position in Inovalon in the first quarter valued at approximately $181,000. Quantbot Technologies LP lifted its holdings in Inovalon by 395.7% in the first quarter. Quantbot Technologies LP now owns 17,666 shares of the technology company’s stock valued at $187,000 after acquiring an additional 14,102 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Inovalon in the fourth quarter valued at approximately $294,000. Hedge funds and other institutional investors own 27.79% of the company’s stock.

Several research analysts have recently weighed in on INOV shares. Wells Fargo restated a “market perform” rating and set a $14.00 target price (down from $16.00) on shares of Inovalon in a report on Wednesday, February 21st. Zacks Investment Research upgraded Inovalon from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. ValuEngine cut Inovalon from a “hold” rating to a “sell” rating in a report on Wednesday, March 7th. Morgan Stanley cut Inovalon from an “equal weight” rating to an “underweight” rating and set a $10.00 target price on the stock. in a report on Wednesday, March 14th. Finally, TheStreet upgraded Inovalon from a “d+” rating to a “c” rating in a report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Inovalon Company Profile

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.

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