Black Creek Investment Management Inc. Has $143.67 Million Stake in Inovalon Holdings Inc (INOV)
Black Creek Investment Management Inc. increased its position in Inovalon Holdings Inc (NASDAQ:INOV) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,925,250 shares of the technology company’s stock after buying an additional 1,152,815 shares during the period. Inovalon Holdings accounts for approximately 7.6% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Black Creek Investment Management Inc. owned about 17.26% of Inovalon Holdings worth $143,667,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can increased its stake in Inovalon Holdings by 319.9% during the 1st quarter. Bank of Montreal Can now owns 13,945 shares of the technology company’s stock valued at $176,000 after purchasing an additional 10,624 shares in the last quarter. Laurion Capital Management LP acquired a new position in Inovalon Holdings during the first quarter worth $785,000. Karp Capital Management Corp acquired a new position in Inovalon Holdings during the first quarter worth $421,000. Goldman Sachs Group Inc. raised its holdings 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 worth $5,954,000 after buying an additional 219,465 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Inovalon Holdings during the first quarter worth $1,290,000. Institutional investors own 28.67% of the company’s stock.
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Inovalon Holdings Inc (INOV) traded up 0.2012% during trading on Monday, reaching $17.0843. 219,506 shares of the company’s stock were exchanged. The stock has a market cap of $2.49 billion, a PE ratio of 143.5655 and a beta of 1.29. Inovalon Holdings Inc has a 12 month low of $8.60 and a 12 month high of $17.80. The firm has a 50 day moving average of $16.32 and a 200-day moving average of $16.32.
Inovalon Holdings (NASDAQ:INOV) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. Inovalon Holdings had a return on equity of 3.24% and a net margin of 4.96%. The business had revenue of $110.60 million during the quarter, compared to analysts’ expectations of $108.73 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Inovalon Holdings Inc will post $0.32 earnings per share for the current fiscal year.
INOV has been the subject of a number of analyst reports. KeyCorp reiterated a “hold” rating on shares of Inovalon Holdings in a report on Tuesday, September 12th. Morgan Stanley raised shares of Inovalon Holdings from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $9.00 to $14.00 in a research report on Tuesday, September 12th. ValuEngine upgraded shares of Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. BidaskClub cut shares of Inovalon Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $12.00 price target (up previously from $11.00) on shares of Inovalon Holdings in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Inovalon Holdings currently has a consensus rating of “Hold” and an average target price of $14.17.
In related news, CEO Keith R. Dunleavy purchased 62,000 shares of Inovalon Holdings stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average cost of $16.38 per share, for a total transaction of $1,015,560.00. Following the completion of the acquisition, the chief executive officer now directly owns 270,000 shares of the company’s stock, valued at $4,422,600. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 48.28% of the company’s stock.
About Inovalon Holdings
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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