Jump Financial LLC Reduces Stake in Innodata Inc. $INOD

Key Points

• Jump Financial LLC has reduced its holdings in Innodata Inc. by 84.1%, selling 177,970 shares and now owning only 33,767 shares valued at approximately $1.21 million.
• Innodata reported a 79.7% year-over-year increase in revenue, totaling $58.39 million, and earnings per share that exceeded analysts' expectations.
• Analysts maintain a positive outlook on Innodata, with an average rating of "Buy" and a consensus price target of $55.00.

Jump Financial LLC trimmed its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 84.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,767 shares of the technology company's stock after selling 177,970 shares during the quarter. Jump Financial LLC owned 0.11% of Innodata worth $1,212,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of INOD. Invesco Ltd. raised its position in Innodata by 2.0% in the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock valued at $466,000 after buying an additional 232 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Innodata in the 4th quarter valued at $483,000. Barclays PLC raised its position in Innodata by 11.1% in the 4th quarter. Barclays PLC now owns 42,848 shares of the technology company's stock valued at $1,693,000 after buying an additional 4,291 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Innodata by 58.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 280,297 shares of the technology company's stock valued at $11,080,000 after buying an additional 103,431 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in Innodata by 12.1% in the 4th quarter. MetLife Investment Management LLC now owns 16,414 shares of the technology company's stock valued at $649,000 after buying an additional 1,776 shares during the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BWS Financial reissued a "buy" rating and issued a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. Wedbush lowered their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Innodata currently has a consensus rating of "Buy" and an average price target of $55.00.

Innodata Stock Performance

Shares of INOD stock traded down $0.10 on Wednesday, hitting $37.34. 273,916 shares of the stock were exchanged, compared to its average volume of 2,142,184. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.19 billion, a PE ratio of 30.16 and a beta of 2.58. Innodata Inc. has a one year low of $13.02 and a one year high of $71.00. The firm's 50 day moving average is $45.35 and its two-hundred day moving average is $43.09.

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

Innodata Company 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.