Los Angeles Capital Management LLC Takes $330,000 Position in Innodata Inc. (NASDAQ:INOD)

Los Angeles Capital Management LLC acquired a new stake in shares of Innodata Inc. (NASDAQ:INOD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,696 shares of the technology company’s stock, valued at approximately $330,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. bought a new position in shares of Innodata during the third quarter valued at about $311,000. Private Advisor Group LLC grew its stake in shares of Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,207 shares during the last quarter. Compass Ion Advisors LLC grew its stake in shares of Innodata by 5.6% in the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock worth $632,000 after purchasing an additional 2,011 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in shares of Innodata by 309.5% in the second quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 84,509 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Innodata in the second quarter worth about $381,000. 30.75% of the stock is owned by institutional investors.

Innodata Stock Performance

Shares of INOD opened at $36.75 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata Inc. has a one year low of $5.46 and a one year high of $49.72. The company has a 50-day simple moving average of $20.30 and a two-hundred day simple moving average of $16.97. The firm has a market capitalization of $1.07 billion, a PE ratio of 62.29 and a beta of 2.30.

Insiders Place Their Bets

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the sale, the director now directly owns 25,262 shares in the company, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 15.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Craig Hallum assumed coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. BWS Financial raised their target price on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.67.

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.