Bleakley Financial Group LLC Invests $900,000 in Innodata Inc. $INOD

Key Points

• Bleakley Financial Group opened a new position in Innodata during the fourth quarter, buying 17,662 shares valued at about $900,000.
• Several analysts remain constructive on the stock: Innodata carries a Moderate Buy consensus rating with an average price target of $105, while Wedbush recently raised its target to $100 and BWS Financial reiterated a $110 target.
• Despite strong recent results, insiders have been selling shares; the latest disclosures show CEO Jack Abuhoff and Director Louise C. Forlenza both reduced their holdings, even as Innodata reported Q1 earnings and revenue that beat expectations.

Bleakley Financial Group LLC purchased a new position in Innodata Inc. (NASDAQ:INOD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,662 shares of the technology company's stock, valued at approximately $900,000. Bleakley Financial Group LLC owned approximately 0.06% of Innodata at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System raised its stake in Innodata by 2.4% during the third quarter. Arizona State Retirement System now owns 9,386 shares of the technology company's stock worth $723,000 after purchasing an additional 217 shares during the period. Prosperity Wealth Management Inc. increased its position in shares of Innodata by 4.0% during the third quarter. Prosperity Wealth Management Inc. now owns 10,500 shares of the technology company's stock valued at $809,000 after acquiring an additional 400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Innodata by 5.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,703 shares of the technology company's stock valued at $392,000 after purchasing an additional 418 shares in the last quarter. IFP Advisors Inc raised its position in Innodata by 74.8% in the 4th quarter. IFP Advisors Inc now owns 1,166 shares of the technology company's stock valued at $59,000 after purchasing an additional 499 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Innodata by 3.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,613 shares of the technology company's stock valued at $851,000 after purchasing an additional 528 shares during the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INOD has been the subject of several research reports. Weiss Ratings downgraded shares of Innodata from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. BWS Financial reissued a "top pick" rating and issued a $110.00 price objective on shares of Innodata in a research note on Friday, April 10th. Finally, Wedbush boosted their price objective on shares of Innodata from $80.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $105.00.

Insider Transactions at Innodata

In other Innodata news, Director Louise C. Forlenza sold 18,000 shares of Innodata stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $94.47, for a total value of $1,700,460.00. Following the completion of the transaction, the director owned 3,943 shares of the company's stock, valued at $372,495.21. The trade was a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jack Abuhoff sold 38,056 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.39, for a total value of $3,820,441.84. Following the completion of the sale, the chief executive officer owned 1,340,456 shares in the company, valued at $134,568,377.84. The trade was a 2.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,014,907 shares of company stock valued at $94,584,893. 11.80% of the stock is currently owned by corporate insiders.

Innodata Trading Up 5.7%

Shares of INOD stock opened at $104.98 on Friday. Innodata Inc. has a 1-year low of $34.23 and a 1-year high of $114.77. The firm's 50-day simple moving average is $58.72 and its 200-day simple moving average is $54.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.49 and a quick ratio of 2.49. The firm has a market cap of $3.43 billion, a P/E ratio of 94.58 and a beta of 2.40.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.08 by $0.34. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The firm had revenue of $90.10 million for the quarter, compared to analyst estimates of $76.47 million. During the same quarter last year, the firm posted $0.22 earnings per share. Innodata's revenue for the quarter was up 54.5% compared to the same quarter last year. As a group, equities analysts forecast that Innodata Inc. will post 0.99 EPS for the current year.

Innodata Profile

Innodata Inc NASDAQ: INOD is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata's platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm's offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.

Want to see what other hedge funds are holding INOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innodata Inc. (NASDAQ:INOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.