Innodata Inc. $INOD Shares Sold by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. decreased its stake in Innodata Inc. by 55.8% in Q1, selling nearly 10,000 shares, leaving it with a total of 7,895 shares worth approximately $283,000.
• Innodata reported a 79.7% increase in revenue year-over-year during its latest quarter, reaching $58.39 million, and exceeded analysts' earnings per share estimates by $0.09.
• Research analysts maintain a consensus rating of "Buy" on Innodata, with a target price averaging $55.00, despite Wedbush reducing their price objective from $75.00 to $58.00.

Fox Run Management L.L.C. cut its stake in Innodata Inc. (NASDAQ:INOD - Free Report) by 55.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,895 shares of the technology company's stock after selling 9,977 shares during the period. Fox Run Management L.L.C.'s holdings in Innodata were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of INOD. Creative Financial Designs Inc. ADV acquired a new stake in shares of Innodata during the first quarter worth $29,000. KBC Group NV purchased a new position in Innodata in the 1st quarter worth $52,000. Motco acquired a new stake in Innodata during the 1st quarter worth about $72,000. Headlands Technologies LLC acquired a new stake in Innodata during the 1st quarter worth about $90,000. Finally, USA Financial Formulas grew its stake in Innodata by 180.5% during the 1st quarter. USA Financial Formulas now owns 2,533 shares of the technology company's stock valued at $91,000 after purchasing an additional 1,630 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company's stock.

Innodata Stock Performance

Shares of INOD traded down $0.66 during trading hours on Monday, hitting $37.82. The stock had a trading volume of 1,142,612 shares, compared to its average volume of 2,708,961. The firm has a 50-day moving average price of $46.34 and a 200 day moving average price of $43.44. Innodata Inc. has a fifty-two week low of $13.02 and a fifty-two week high of $71.00. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 30.50 and a beta of 2.75. 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 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. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The company had revenue of $58.39 million for the quarter, compared to analyst estimates of $56.35 million. The company's quarterly revenue was up 79.7% on a year-over-year basis. As a group, research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

INOD has been the subject of several research analyst reports. Wedbush reduced their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. BWS Financial reiterated a "buy" rating and issued a $74.00 price target on shares of Innodata in a report on Monday, June 16th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target 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.