Carmignac Gestion Trims Stake in Innodata Inc. $INOD

Key Points

• Carmignac Gestion reduced its holdings in Innodata Inc. by 80%, dropping from 12,500 shares to just 2,500 shares, resulting in a valuation of $90,000 at the end of the recent quarter.
• Several other hedge funds adjusted their positions in Innodata, with Invesco Ltd. increasing its holdings by 2% and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raising theirs by 3.6% during the fourth quarter.
• Innodata reported a quarterly earnings per share of $0.20, exceeding analysts' expectations, alongside a revenue increase of 79.7% year-over-year, totaling $58.39 million.

Carmignac Gestion trimmed its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 80.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,500 shares of the technology company's stock after selling 10,000 shares during the period. Carmignac Gestion's holdings in Innodata were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Innodata by 2.0% in the fourth quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock valued at $466,000 after acquiring an additional 232 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Innodata by 2.7% in the fourth quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock valued at $447,000 after buying an additional 300 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Innodata by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company's stock worth $608,000 after purchasing an additional 533 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in Innodata during the 1st quarter worth $29,000. Finally, Precision Wealth Strategies LLC grew its stake in Innodata by 7.2% during the 1st quarter. Precision Wealth Strategies LLC now owns 12,646 shares of the technology company's stock worth $454,000 after purchasing an additional 854 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Price Performance

Shares of INOD traded down $0.6060 on Monday, reaching $37.8740. The stock had a trading volume of 517,865 shares, compared to its average volume of 2,178,066. The firm has a 50-day moving average of $46.47 and a 200 day moving average of $43.48. The firm has a market capitalization of $1.21 billion, a PE ratio of 30.65 and a beta of 2.75. Innodata Inc. has a twelve month low of $13.02 and a twelve month high of $71.00. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. The business had revenue of $58.39 million for the quarter, compared to analyst estimates of $56.35 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The firm's quarterly revenue was up 79.7% compared to the same quarter last year. Sell-side analysts expect that Innodata Inc. will post 0.81 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on INOD shares. BWS Financial reaffirmed a "buy" rating and set a $74.00 price target on shares of Innodata in a report on Monday, June 16th. Wedbush dropped their target price on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $55.00.

Innodata Profile

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.