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SG Americas Securities LLC Purchases New Stake in Innodata Inc. (NASDAQ:INOD)

Innodata logo with Computer and Technology background

SG Americas Securities LLC acquired a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,606 shares of the technology company's stock, valued at approximately $775,000. SG Americas Securities LLC owned about 0.07% of Innodata as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. USA Financial Formulas bought a new position in Innodata during the 4th quarter valued at about $36,000. Point72 Asset Management L.P. bought a new position in shares of Innodata during the third quarter valued at approximately $206,000. BNP Paribas Financial Markets grew its stake in shares of Innodata by 38.5% during the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock valued at $225,000 after buying an additional 3,739 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Innodata by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company's stock worth $242,000 after buying an additional 2,099 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company's stock valued at $250,000 after acquiring an additional 2,207 shares during the period. Hedge funds and other institutional investors own 30.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush started coverage on Innodata in a research note on Thursday, December 19th. They issued an "outperform" rating and a $48.00 target price on the stock. StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. BWS Financial boosted their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.20.

View Our Latest Stock Analysis on INOD

Innodata Stock Up 2.7 %

Shares of NASDAQ INOD traded up $0.99 during midday trading on Friday, reaching $37.08. 1,520,071 shares of the company's stock traded hands, compared to its average volume of 1,194,626. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 62.85 and a beta of 2.59. The stock's 50 day simple moving average is $39.34 and its 200-day simple moving average is $27.06. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a one year low of $5.46 and a one year high of $55.17.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.07 by $0.28. Innodata had a net margin of 14.57% and a return on equity of 44.38%. The firm had revenue of $52.22 million during the quarter, compared to analyst estimates of $35.47 million. During the same quarter in the previous year, the business posted $0.01 EPS. On average, analysts predict that Innodata Inc. will post 0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the transaction, the director now directly owns 25,262 shares of the company's stock, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nauman Sabeeh Toor sold 110,207 shares of Innodata stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of the transaction, the director now owns 209,194 shares of the company's stock, valued at approximately $9,204,536. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,035,083 shares of company stock worth $46,889,370 in the last 90 days. Insiders own 15.23% of the company's stock.

Innodata Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Innodata (NASDAQ:INOD)

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