Riverbridge Partners buys $64,657,941 stake in Inovalon Holdings Inc (INOV)

Inovalon Holdings Inc (INOV) : Riverbridge Partners scooped up 762,680 additional shares in Inovalon Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 3,355,368 shares of Inovalon Holdings Inc which is valued at $64,657,941.Inovalon Holdings Inc makes up approximately 1.30% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , Quadrant Capital Group reduced its stake in INOV by selling 18 shares or 6.79% in the most recent quarter. The Hedge Fund company now holds 247 shares of INOV which is valued at $4,599.Penn Davis Mcfarland Inc reduced its stake in INOV by selling 555 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 529,414 shares of INOV which is valued at $10,042,984. Inovalon Holdings Inc makes up approx 2.64% of Penn Davis Mcfarland Inc’s portfolio. Integrated Investment Consultants added INOV to its portfolio by purchasing 2,413 company shares during the most recent quarter which is valued at $43,627. Inovalon Holdings Inc makes up approx 0.02% of Integrated Investment Consultants’s portfolio.

Inovalon Holdings Inc closed down -5.24 points or -27.19% at $14.03 with 59,26,832 shares getting traded on Thursday. Post opening the session at $15.69, the shares hit an intraday low of $14 and an intraday high of $15.94 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Inovalon Holdings Inc reported $0.14 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $0.14. The company had revenue of $123.80 million for the quarter, compared to analysts expectations of $126.86 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Inovalon Holdings Inc. Inovalon Holdings Inc was Downgraded by Goldman to ” Neutral” on Aug 4, 2016. Inovalon Holdings Inc was Downgraded by Piper Jaffray to ” Underweight” on Aug 4, 2016.

Inovalon Holdings Inc. is a technology company. The Company combines advanced cloud-based data analytics and data-driven intervention platforms to provide services for health plans hospitals physicians patients pharmaceutical companies and researchers. Through its datasets integration technologies predictive analytics and subject matter expertise the Company delivers platforms. Its analytics identify gaps in care quality data integrity and financial performance while providing clients with capabilities to resolve these gaps. The Company’s data analytics and intervention platforms consist of four primary components: data integration advanced analytics intervention platforms and business processing. This system manages the process of defining and configuring industry data feeds from its clients and partners including electronic health records laboratory pharmacy patient reported claims paper based medical records biometric and hospital data feeds.

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