Perkins Capital Management Inc. Cuts Stock Holdings in Inuvo, Inc. (NYSE:INUV)

Perkins Capital Management Inc. reduced its stake in Inuvo, Inc. (NYSE:INUV) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 6,827,862 shares of the company’s stock after selling 75,785 shares during the quarter. Inuvo comprises approximately 1.6% of Perkins Capital Management Inc.’s holdings, making the stock its 17th biggest position. Perkins Capital Management Inc.’s holdings in Inuvo were worth $1,684,000 as of its most recent filing with the SEC.

Separately, Vanguard Group Inc. increased its holdings in shares of Inuvo by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,495,657 shares of the company’s stock worth $1,874,000 after purchasing an additional 46,290 shares during the last quarter. Institutional investors own 29.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Inuvo in a research note on Thursday, October 31st. They set a “hold” rating for the company.

Inuvo Stock Performance

INUV stock opened at $0.24 on Thursday. The firm has a fifty day moving average price of $0.25 and a 200 day moving average price of $0.28. Inuvo, Inc. has a fifty-two week low of $0.17 and a fifty-two week high of $0.57. The firm has a market cap of $33.35 million, a PE ratio of -3.96 and a beta of 1.15.

Inuvo (NYSE:INUV) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $18.21 million during the quarter. Inuvo had a negative net margin of 9.21% and a negative return on equity of 46.09%. On average, equities analysts predict that Inuvo, Inc. will post -0.01 EPS for the current year.

Inuvo Profile

Inuvo, Inc engages in the advertising technology and services business primarily in the United States. It sells information technology solutions to brands, agencies, and large consolidators of advertising demand (platforms). Its platforms optimize the purchase and placement of advertising in real time.