Shares of Inovalon Holdings Inc (NASDAQ:INOV) saw strong trading volume on Monday . 1,071,688 shares were traded during mid-day trading, an increase of 119% from the previous session’s volume of 488,787 shares.The stock last traded at $14.21 and had previously closed at $13.79.
A number of equities research analysts have issued reports on the company. BidaskClub upgraded Inovalon from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd. ValuEngine cut shares of Inovalon from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Zacks Investment Research cut shares of Inovalon from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Finally, SunTrust Banks assumed coverage on shares of Inovalon in a research note on Friday, February 15th. They set a “buy” rating and a $22.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $15.50.
The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 79.28, a PEG ratio of 2.69 and a beta of 0.61.
In related news, CEO Keith R. Dunleavy acquired 136,995 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $13.41 per share, for a total transaction of $1,837,102.95. Following the completion of the purchase, the chief executive officer now directly owns 460,801 shares in the company, valued at $6,179,341.41. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Keith R. Dunleavy acquired 60,801 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average price of $13.60 per share, for a total transaction of $826,893.60. Following the completion of the purchase, the chief executive officer now owns 460,801 shares of the company’s stock, valued at $6,266,893.60. The disclosure for this purchase can be found here. 50.44% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of INOV. Advisor Group Inc. grew its holdings in Inovalon by 21.3% during the first quarter. Advisor Group Inc. now owns 7,862 shares of the technology company’s stock worth $98,000 after acquiring an additional 1,382 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Inovalon by 9.8% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 23,109 shares of the technology company’s stock worth $328,000 after acquiring an additional 2,064 shares during the period. Legal & General Group Plc grew its holdings in Inovalon by 19.9% during the fourth quarter. Legal & General Group Plc now owns 13,021 shares of the technology company’s stock worth $185,000 after acquiring an additional 2,163 shares during the period. Marshall Wace North America L.P. acquired a new position in Inovalon during the first quarter worth about $31,000. Finally, California State Teachers Retirement System grew its holdings in Inovalon by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 676,995 shares of the technology company’s stock worth $8,389,000 after acquiring an additional 2,557 shares during the period. Institutional investors and hedge funds own 32.33% of the company’s stock.
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About Inovalon (NASDAQ:INOV)
Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.
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