Inuvo (NYSEAMERICAN:INUV) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Inuvo (NYSEAMERICAN:INUV) from a sell rating to a hold rating in a report released on Thursday, 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. “

NYSEAMERICAN:INUV opened at $0.25 on Thursday. Inuvo has a fifty-two week low of $0.19 and a fifty-two week high of $1.75.

Inuvo (NYSEAMERICAN:INUV) last posted its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.07. The company had revenue of $14.05 million for the quarter, compared to analysts’ expectations of $13.30 million.

In other Inuvo news, Director Charles D. Morgan purchased 1,650,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was bought at an average price of $0.30 per share, with a total value of $495,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new position in Inuvo in the 4th quarter valued at approximately $42,000. Vanguard Group Inc. boosted its position in Inuvo by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 626,882 shares of the technology company’s stock valued at $264,000 after buying an additional 46,199 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Inuvo by 10.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,885,189 shares of the technology company’s stock valued at $792,000 after buying an additional 171,999 shares during the period.

Inuvo Company Profile

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.

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