Meridian Wealth Management LLC Makes New Investment in Innodata Inc. $INOD

Meridian Wealth Management LLC acquired a new stake in Innodata Inc. (NASDAQ:INOD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,418 shares of the technology company’s stock, valued at approximately $957,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INOD. Hussman Strategic Advisors Inc. bought a new stake in Innodata in the second quarter valued at about $1,076,000. Moody Aldrich Partners LLC acquired a new stake in Innodata during the third quarter valued at approximately $3,718,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Innodata in the 2nd quarter valued at approximately $332,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Innodata in the 3rd quarter worth approximately $4,876,000. Finally, Freedom Investment Management Inc. bought a new position in shares of Innodata during the 2nd quarter worth approximately $242,000. 30.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INOD has been the topic of a number of analyst reports. BWS Financial reiterated a “top pick” rating and issued a $110.00 price target on shares of Innodata in a research report on Friday. Zacks Research lowered shares of Innodata from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Weiss Ratings cut shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Innodata in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.67.

Insider Activity at Innodata

In other news, Director Louise C. Forlenza sold 8,278 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.00, for a total transaction of $538,070.00. Following the sale, the director directly owned 3,943 shares of the company’s stock, valued at $256,295. This represents a 67.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Ashok Mishra sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $61.39, for a total transaction of $12,278,000.00. Following the completion of the transaction, the chief operating officer owned 60,000 shares of the company’s stock, valued at $3,683,400. This trade represents a 76.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 236,372 shares of company stock worth $14,572,507 over the last three months. 15.23% of the stock is owned by insiders.

Innodata Stock Performance

Shares of NASDAQ:INOD opened at $55.18 on Tuesday. The business has a fifty day moving average of $56.89 and a 200-day moving average of $58.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.69 and a current ratio of 2.69. Innodata Inc. has a twelve month low of $26.41 and a twelve month high of $93.85. The firm has a market cap of $1.76 billion, a PE ratio of 56.89 and a beta of 2.42.

Innodata (NASDAQ:INOD) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. Innodata had a net margin of 14.11% and a return on equity of 41.67%. The business had revenue of $62.55 million for the quarter, compared to the consensus estimate of $59.78 million. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities research analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Innodata Profile

Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.