Senvest Management LLC Has $17.22 Million Holdings in Inovalon Holdings, Inc. (INOV)
Senvest Management LLC grew its stake in Inovalon Holdings, Inc. (NASDAQ:INOV) by 138.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,009,700 shares of the technology company’s stock after buying an additional 586,500 shares during the quarter. Senvest Management LLC owned approximately 0.69% of Inovalon worth $17,215,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its position in Inovalon by 40.1% in the second quarter. TIAA CREF Investment Management LLC now owns 191,994 shares of the technology company’s stock worth $2,525,000 after buying an additional 54,955 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Inovalon by 93.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 290,293 shares of the technology company’s stock worth $3,818,000 after buying an additional 140,566 shares in the last quarter. Bank of New York Mellon Corp increased its position in Inovalon by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 344,848 shares of the technology company’s stock worth $4,535,000 after buying an additional 30,922 shares in the last quarter. Tributary Capital Management LLC increased its position in Inovalon by 93.3% in the third quarter. Tributary Capital Management LLC now owns 92,400 shares of the technology company’s stock worth $1,575,000 after buying an additional 44,600 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Inovalon by 163.3% in the second quarter. Alliancebernstein L.P. now owns 102,500 shares of the technology company’s stock worth $1,348,000 after buying an additional 63,578 shares in the last quarter. Institutional investors and hedge funds own 28.14% of the company’s stock.
In related news, insider Shauna L. Vernal sold 5,908 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $16.01, for a total transaction of $94,587.08. Following the completion of the sale, the insider now owns 47,309 shares in the company, valued at $757,417.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith R. Dunleavy purchased 62,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were purchased at an average cost of $16.38 per share, with a total value of $1,015,560.00. Following the completion of the purchase, the chief executive officer now owns 270,000 shares of the company’s stock, valued at approximately $4,422,600. The disclosure for this purchase can be found here. Company insiders own 48.28% of the company’s stock.
INOV has been the subject of a number of analyst reports. TheStreet upgraded Inovalon from a “d+” rating to a “c-” rating in a research report on Thursday, October 5th. Morgan Stanley upgraded Inovalon from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $9.00 to $14.00 in a research report on Tuesday, September 12th. KeyCorp reiterated a “hold” rating on shares of Inovalon in a research report on Tuesday, September 12th. ValuEngine upgraded Inovalon from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, BidaskClub cut Inovalon from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.00.
Shares of Inovalon Holdings, Inc. (NASDAQ:INOV) opened at $15.60 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.62 and a current ratio of 5.62. Inovalon Holdings, Inc. has a 1 year low of $8.60 and a 1 year high of $17.80. The stock has a market capitalization of $2,275.60, a PE ratio of 74.29, a P/E/G ratio of 4.57 and a beta of 1.24.
Inovalon (NASDAQ:INOV) last released its earnings results on Wednesday, November 1st. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Inovalon had a return on equity of 4.63% and a net margin of 4.07%. The firm had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $114.79 million. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. analysts forecast that Inovalon Holdings, Inc. will post 0.24 EPS for the current fiscal year.
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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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