Inuvo (NYSEAMERICAN:INUV) Stock Rating Upgraded by Zacks Investment Research

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

NYSEAMERICAN INUV opened at $0.25 on Thursday. Inuvo has a one year low of $0.19 and a one year high of $1.75.

Inuvo (NYSEAMERICAN:INUV) last posted its quarterly earnings data on Wednesday, August 14th. The technology company reported ($0.06) 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 stock in a transaction dated Monday, July 15th. The shares were acquired at an average price of $0.30 per share, with a total value of $495,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in shares of Inuvo in the fourth quarter valued at about $42,000. Vanguard Group Inc. boosted its holdings in shares of Inuvo by 8.0% in the second quarter. Vanguard Group Inc. now owns 626,882 shares of the technology company’s stock valued at $264,000 after acquiring an additional 46,199 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Inuvo by 10.0% in the second quarter. Renaissance Technologies LLC now owns 1,885,189 shares of the technology company’s stock valued at $792,000 after acquiring an additional 171,999 shares in the last 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.

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