Trade Report: Today: Inovalon Holdings Inc. (INOV) Short Interest Update

Today: Inovalon Holdings Inc. (INOV) Short Interest Update

Inovalon Holdings Inc. (NASDAQ:INOV) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 10,436,666 shares, a growth of 18.4% from the October 31st total of 8,811,113 shares. Based on an average daily volume of 752,092 shares, the days-to-cover ratio is currently 13.9 days. Approximately 17.8% of the company’s shares are sold short.

Several research analysts have weighed in on INOV shares. Zacks Investment Research raised shares of Inovalon Holdings from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Monday, October 17th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Inovalon Holdings in a research note on Wednesday, September 28th. First Analysis started coverage on shares of Inovalon Holdings in a research note on Monday, October 24th. They set an “equal weight” rating and a $14.00 target price for the company. William Blair lowered shares of Inovalon Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 4th. Finally, Citigroup Inc. lowered their target price on shares of Inovalon Holdings from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, August 4th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Inovalon Holdings presently has a consensus rating of “Hold” and an average price target of $16.78.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Suisse AG increased its position in shares of Inovalon Holdings by 99.6% in the third quarter. Credit Suisse AG now owns 64,903 shares of the company’s stock valued at $954,000 after buying an additional 32,385 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Inovalon Holdings during the third quarter valued at $159,000. Bell State Bank & Trust purchased a new position in shares of Inovalon Holdings during the third quarter valued at $176,000. Jane Street Group LLC purchased a new position in shares of Inovalon Holdings during the third quarter valued at $667,000. Finally, Matrix Capital Management Company LP purchased a new position in shares of Inovalon Holdings during the third quarter valued at $1,471,000. 32.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Inovalon Holdings (NASDAQ:INOV) opened at 15.95 on Monday. The firm has a market cap of $2.35 billion, a PE ratio of 56.96 and a beta of 1.08. The stock’s 50 day moving average is $14.59 and its 200 day moving average is $16.37. Inovalon Holdings has a 12 month low of $13.30 and a 12 month high of $20.63.

Inovalon Holdings (NASDAQ:INOV) last announced its earnings results on Wednesday, November 2nd. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. Inovalon Holdings had a net margin of 9.37% and a return on equity of 7.79%. The firm earned $105.01 million during the quarter, compared to the consensus estimate of $102.38 million. During the same quarter in the previous year, the company posted $0.09 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts anticipate that Inovalon Holdings will post $0.44 earnings per share for the current fiscal year.

Inovalon Holdings Company Profile

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