Virtu Financial LLC Invests $1.48 Million in Innodata Inc. (NASDAQ:INOD)

Key Points

• Virtu Financial LLC has invested approximately $1.48 million in Innodata Inc., acquiring 41,121 shares and representing about 0.13% of the company's stock.
• Several institutional investors have significantly increased their stakes in Innodata, with D.E. Shaw & Co. raising its position by nearly 1,718.4% in the fourth quarter.
• Innodata posted better-than-expected quarterly earnings with an EPS of $0.20, surpassing the consensus estimate and showing 79.7% year-over-year revenue growth.

Virtu Financial LLC bought a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 41,121 shares of the technology company's stock, valued at approximately $1,476,000. Virtu Financial LLC owned approximately 0.13% of Innodata as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

INOD has been the topic of several recent analyst reports. BWS Financial reaffirmed a "buy" rating and set a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Wedbush cut their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Innodata has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Innodata Stock Up 0.6%

Shares of Innodata stock traded up $0.24 on Wednesday, reaching $43.19. 1,592,816 shares of the company were exchanged, compared to its average volume of 2,877,006. The stock's 50 day moving average price is $47.26 and its 200-day moving average price is $43.26. The company has a market cap of $1.38 billion, a P/E ratio of 34.83 and a beta of 2.75. Innodata Inc. has a 1-year low of $13.02 and a 1-year high of $71.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings data 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. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The business had revenue of $58.39 million during the quarter, compared to the consensus estimate of $56.35 million. The company's quarterly revenue was up 79.7% compared to the same quarter last year. As a group, equities analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

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.