Dragoneer Investment Group LLC Takes Position in Innio N.V. $INIO

Key Points

• Dragoneer Investment Group acquired 2.85 million Innio shares worth approximately $112.7 million, making Innio its fourth-largest holding and representing a 0.38% stake.
• Several other institutional investors also initiated positions during the second quarter, including Squarepoint Ops, which purchased approximately $13.8 million in shares.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $42.90, although Innio shares opened at $20.78 after falling 4.8%. The company recently beat quarterly EPS estimates, reporting $0.08 versus the expected $0.05.

Dragoneer Investment Group LLC acquired a new position in shares of Innio N.V. (NASDAQ:INIO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,850,000 shares of the company's stock, valued at approximately $112,718,000. Innio comprises 4.0% of Dragoneer Investment Group LLC's investment portfolio, making the stock its 4th largest holding. Dragoneer Investment Group LLC owned 0.38% of Innio at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in Innio during the second quarter worth approximately $1,117,000. Troluce Capital Advisors LLC acquired a new stake in shares of Innio in the second quarter valued at approximately $1,483,000. WINTON GROUP Ltd acquired a new stake in shares of Innio in the second quarter valued at approximately $2,990,000. Readystate Asset Management LP bought a new position in shares of Innio during the 2nd quarter worth approximately $3,975,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Innio during the 2nd quarter worth approximately $13,842,000.

Analyst Upgrades and Downgrades

INIO has been the subject of several research reports. Morgan Stanley started coverage on Innio in a report on Monday, June 29th. They set an "overweight" rating and a $47.00 price target for the company. Citigroup initiated coverage on shares of Innio in a report on Monday, June 29th. They issued a "neutral" rating and a $42.00 price objective on the stock. Weiss Ratings initiated coverage on shares of Innio in a research note on Monday, August 31st. They set a "sell (d)" rating for the company. Bank of America initiated coverage on shares of Innio in a report on Monday, June 29th. They set a "buy" rating and a $46.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Innio in a research note on Monday, June 29th. They issued a "hold" rating and a $41.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.90.

Innio Trading Down 4.8%

Shares of NASDAQ INIO opened at $20.78 on Thursday. The firm has a fifty day moving average price of $26.54. Innio N.V. has a one year low of $19.04 and a one year high of $42.95.

Innio (NASDAQ:INIO - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The business had revenue of $937.70 million during the quarter. Equities analysts forecast that Innio N.V. will post 0.37 earnings per share for the current fiscal year.

About Innio

INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.

The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.

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