Trading Report: The UBS Asset Management Americas Inc. Acquires 5,700 Shares of Inovalon Holdings Inc. (INOV)

The UBS Asset Management Americas Inc. Acquires 5,700 Shares of Inovalon Holdings Inc. (INOV)

UBS Asset Management Americas Inc. boosted its stake in Inovalon Holdings Inc. (NASDAQ:INOV) by 29.8% during the second quarter, Holdings Channel reports. The firm owned 24,800 shares of the company’s stock after buying an additional 5,700 shares during the period. UBS Asset Management Americas Inc.’s holdings in Inovalon Holdings were worth $447,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Riverbridge Partners LLC boosted its stake in shares of Inovalon Holdings by 29.4% in the second quarter. Riverbridge Partners LLC now owns 3,355,368 shares of the company’s stock valued at $60,430,000 after buying an additional 762,680 shares during the period. Neuberger Berman Group LLC increased its position in Inovalon Holdings by 4.1% in the second quarter. Neuberger Berman Group LLC now owns 1,477,144 shares of the company’s stock valued at $26,603,000 after buying an additional 58,058 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Inovalon Holdings by 71.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,070,480 shares of the company’s stock valued at $19,825,000 after buying an additional 447,626 shares in the last quarter. Bank of New York Mellon Corp increased its position in Inovalon Holdings by 35.0% in the second quarter. Bank of New York Mellon Corp now owns 312,333 shares of the company’s stock valued at $5,625,000 after buying an additional 80,914 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Inovalon Holdings by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 263,103 shares of the company’s stock valued at $4,873,000 after buying an additional 55,440 shares in the last quarter. 32.04% of the stock is currently owned by institutional investors and hedge funds.

Inovalon Holdings Inc. (NASDAQ:INOV) opened at 14.05 on Friday. The stock’s 50 day moving average price is $14.82 and its 200-day moving average price is $16.78. The company has a market cap of $2.14 billion, a P/E ratio of 47.47 and a beta of 1.06. Inovalon Holdings Inc. has a 52-week low of $13.35 and a 52-week high of $23.87.

Inovalon Holdings (NASDAQ:INOV) last released its earnings results on Wednesday, August 3rd. The company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $123.80 million for the quarter, compared to the consensus estimate of $126.86 million. Inovalon Holdings had a return on equity of 7.51% and a net margin of 9.88%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. On average, equities analysts predict that Inovalon Holdings Inc. will post $0.41 earnings per share for the current fiscal year.

Several research firms have recently weighed in on INOV. Wells Fargo & Co. reissued a “buy” rating on shares of Inovalon Holdings in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. downgraded Inovalon Holdings from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $17.00 in a research report on Thursday, August 4th. Piper Jaffray Cos. downgraded Inovalon Holdings from a “neutral” rating to an “underweight” rating and cut their target price for the company from $14.00 to $11.00 in a research report on Thursday, August 4th. TheStreet downgraded Inovalon Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, August 24th. Finally, First Analysis began coverage on Inovalon Holdings in a research report on Monday, October 24th. They set an “equal weight” rating and a $14.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Inovalon Holdings has an average rating of “Hold” and an average price target of $16.78.

In other news, Director William D. Green bought 30,000 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were acquired at an average price of $16.22 per share, for a total transaction of $486,600.00. Following the completion of the transaction, the director now directly owns 38,351 shares in the company, valued at approximately $622,053.22. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William J. Teuber, Jr. bought 60,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was purchased at an average price of $16.46 per share, for a total transaction of $987,600.00. Following the transaction, the director now owns 69,559 shares of the company’s stock, valued at $1,144,941.14. The disclosure for this purchase can be found here. 50.71% of the stock is owned by insiders.

Inovalon Holdings Company Profile

Inovalon Holdings, Inc is a technology company. The Company combines advanced cloud-based data analytics and data-driven intervention platforms to provide services for health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. The Company operates through developing cloud-based data analytics and data-driven intervention platforms segment and provides related services to its clients.

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