Fox Run Management L.L.C. Makes New Investment in Innodata Inc. (NASDAQ:INOD)

Fox Run Management L.L.C. acquired a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,872 shares of the technology company's stock, valued at approximately $706,000. Fox Run Management L.L.C. owned 0.06% of Innodata at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of INOD. Principal Financial Group Inc. acquired a new position in Innodata in the 3rd quarter valued at about $311,000. Charles Schwab Investment Management Inc. grew its position in shares of Innodata by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock valued at $1,291,000 after purchasing an additional 1,843 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock valued at $225,000 after purchasing an additional 3,739 shares during the last quarter. Centiva Capital LP bought a new position in shares of Innodata during the third quarter worth approximately $318,000. Finally, Point72 Asset Management L.P. acquired a new stake in Innodata during the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Insider Buying and Selling at Innodata

In other Innodata news, Director Nauman Sabeeh Toor sold 196,777 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the completion of the transaction, the director now owns 12,417 shares of the company's stock, valued at approximately $799,654.80. The trade was a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the transaction, the chief financial officer now directly owns 18,000 shares of the company's stock, valued at $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock worth $17,790,794 over the last three months. Corporate insiders own 15.23% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have weighed in on INOD shares. Wedbush started coverage on Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price objective on the stock. Maxim Group raised their price target on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. BWS Financial boosted their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Chardan Capital restated a "buy" rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.00.

Innodata Price Performance

INOD stock traded down $2.44 during midday trading on Friday, reaching $37.39. The company had a trading volume of 1,140,573 shares, compared to its average volume of 1,202,447. Innodata Inc. has a 1-year low of $5.46 and a 1-year high of $71.00. The stock has a 50 day moving average price of $45.47 and a 200-day moving average price of $35.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 43.99 and a beta of 2.59.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.11 by $0.20. The company had revenue of $59.18 million during the quarter, compared to analysts' expectations of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. Equities research analysts expect that Innodata Inc. will post 0.81 earnings per share for the current 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.