Inuvo (NYSEAMERICAN:INUV) Rating Lowered to Sell at Zacks Investment Research

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Inuvo (NYSEAMERICAN:INUV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Inuvo is an Internet marketing and technology company that delivers purchase-ready customers to advertisers through a broad network of websites and applications reaching both desktop and mobile devices. They deliver content and targeted advertisements over the internet and generate revenue when an end user clicks on the advertisements they delivered. They manage their business as two segments, the Partner Network and the Owned and Operated Network. The Partner Network delivers advertisements to their partners’ websites and applications on desktop, tablet and mobile devices. Their proprietary technology platform allows for targeted distribution of advertisements at a scale that measures in the hundreds of millions of advertisements delivered monthly. The Owned and Operated Network designs, builds and markets consumer websites and applications. This segment consists of their mobile-ready ALOT websites and is focused on providing engaging content to their users. “

Shares of INUV stock opened at $0.30 on Tuesday. Inuvo has a 52-week low of $0.19 and a 52-week high of $1.75.

Inuvo (NYSEAMERICAN:INUV) last announced its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07. The business had revenue of $14.05 million during the quarter, compared to analyst estimates of $13.30 million.

In other news, Director Charles D. Morgan bought 1,650,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was acquired at an average price of $0.30 per share, for a total transaction of $495,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

A hedge fund recently raised its stake in Inuvo stock. Renaissance Technologies LLC increased its position in shares of Inuvo Inc (NYSEAMERICAN:INUV) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,885,189 shares of the technology company’s stock after purchasing an additional 171,999 shares during the quarter. Renaissance Technologies LLC owned approximately 4.06% of Inuvo worth $792,000 at the end of the most recent quarter.

About Inuvo

Inuvo, Inc, together with its subsidiaries, a technology company, provides data-driven platforms that automatically identify and message online audiences across video, mobile, connected TV, display, and social and native devices, channels, and formats in the United States. The company's digital marketplace allows advertisers and publishers the opportunity to buy and sell advertising space in real time.

Further Reading: Price-Sales Ratio

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