Trexquant Investment LP Decreases Stake in Innodata Inc. $INOD

Key Points

• Trexquant Investment LP has significantly reduced its stake in Innodata Inc. (INOD) by 40.7%, owning 178,091 shares worth approximately $6.39 million after selling 122,397 shares in the first quarter.
• Despite this reduction, a number of institutional investors, including Invesco and MIRAE ASSET GLOBAL, have increased their positions in Innodata, which is now 30.75% owned by such entities.
• Equities analysts maintain a positive outlook on Innodata, with an average price target of $55.00 and five analysts rating the stock as a Buy.

Trexquant Investment LP lowered its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 40.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,091 shares of the technology company's stock after selling 122,397 shares during the quarter. Trexquant Investment LP owned about 0.56% of Innodata worth $6,393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Innodata by 7.4% in the first quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company's stock valued at $63,197,000 after acquiring an additional 120,630 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in Innodata by 1,718.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock worth $37,331,000 after acquiring an additional 892,663 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new stake in Innodata during the 1st quarter worth about $28,548,000. Wellington Management Group LLP grew its stake in shares of Innodata by 177.8% in the 1st quarter. Wellington Management Group LLP now owns 793,041 shares of the technology company's stock valued at $28,470,000 after buying an additional 507,540 shares in the last quarter. Finally, Next Century Growth Investors LLC boosted its position in Innodata by 24.5% during the first quarter. Next Century Growth Investors LLC now owns 502,053 shares of the technology company's stock worth $18,024,000 after purchasing an additional 98,764 shares during the period. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Stock Up 2.8%

INOD stock traded up $1.17 on Friday, hitting $42.27. 1,437,919 shares of the company's stock were exchanged, compared to its average volume of 2,153,417. The stock has a market cap of $1.35 billion, a P/E ratio of 34.26 and a beta of 2.58. The firm has a 50 day moving average price of $44.94 and a two-hundred day moving average price of $42.96. 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 Inc. has a 12-month low of $13.02 and a 12-month high of $71.00.

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, beating analysts' consensus estimates of $0.11 by $0.09. The company had revenue of $58.39 million for the quarter, compared to analysts' expectations of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The firm's quarterly revenue was up 79.7% on a year-over-year basis. As a group, equities research analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on INOD shares. BWS Financial reiterated a "buy" rating and issued a $74.00 price target on shares of Innodata in a research report on Monday, June 16th. Wedbush cut 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, Based on data from MarketBeat.com, Innodata has a consensus rating of "Buy" and an average price target of $55.00.

About Innodata

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.