Acadian Asset Management LLC lowered its position in Innodata Inc. (NASDAQ:INOD – Free Report) by 58.5% during the 1st quarter, Holdings Channel reports. The fund owned 96,771 shares of the technology company’s stock after selling 136,415 shares during the period. Acadian Asset Management LLC’s holdings in Innodata were worth $3,471,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Creative Financial Designs Inc. ADV bought a new stake in Innodata during the first quarter worth $29,000. KBC Group NV purchased a new position in Innodata during the first quarter worth about $52,000. Motco purchased a new position in Innodata during the first quarter worth about $72,000. Twin Tree Management LP purchased a new stake in shares of Innodata during the 1st quarter valued at $83,000. Finally, AlphaQuest LLC boosted its holdings in shares of Innodata by 137.2% in the 1st quarter. AlphaQuest LLC now owns 2,443 shares of the technology company’s stock worth $88,000 after purchasing an additional 1,413 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.
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Innodata Stock Up 2.6%
Shares of NASDAQ:INOD opened at $62.56 on Monday. Innodata Inc. has a 52-week low of $13.02 and a 52-week high of $71.00. The firm has a market capitalization of $1.99 billion, a P/E ratio of 50.45 and a beta of 2.58. The stock has a 50 day moving average price of $45.57 and a 200-day moving average price of $42.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87.
Innodata (NASDAQ:INOD – Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The firm had revenue of $58.39 million during the quarter, compared to analyst estimates of $56.35 million. The company’s quarterly revenue was up 79.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, BWS Financial reiterated a “buy” rating and issued a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $55.00.
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Innodata Company Profile
(Free Report)
Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.
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