Virtu Financial LLC Makes New $1.48 Million Investment 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 acquired a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,121 shares of the technology company's stock, valued at approximately $1,476,000. Virtu Financial LLC owned about 0.13% of Innodata as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INOD. JPMorgan Chase & Co. boosted its stake in Innodata by 2,038.4% during the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock worth $12,176,000 after buying an additional 293,687 shares during the last quarter. Franklin Resources Inc. acquired a new position in Innodata during the fourth quarter worth $689,000. Wells Fargo & Company MN boosted its stake in Innodata by 256.4% during the fourth quarter. Wells Fargo & Company MN now owns 61,954 shares of the technology company's stock worth $2,448,000 after buying an additional 44,573 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Innodata by 2,465.7% during the fourth quarter. Russell Investments Group Ltd. now owns 6,286 shares of the technology company's stock worth $248,000 after buying an additional 6,041 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Innodata by 2.0% during the fourth quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock worth $466,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

Innodata Trading Down 1.7%

INOD traded down $0.69 during mid-day trading on Friday, hitting $39.93. 2,182,843 shares of the stock were exchanged, compared to its average volume of 2,204,779. The firm's fifty day moving average is $47.16 and its two-hundred day moving average is $43.31. Innodata Inc. has a 1-year low of $13.02 and a 1-year high of $71.00. 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 company has a market cap of $1.27 billion, a PE ratio of 32.23 and a beta of 2.75.

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

Wall Street Analysts Forecast Growth

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

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.