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Innodata Inc. Message Board

  • phildglass phildglass Feb 1, 2013 5:36 AM Flag

    What is the point...

    ...of this message board? Hardly any contributions have something meaningful to say about the fundamentals of innodata/its marketplace...something that might help us make investment decisions. If that's not the point, what is it? To give some a forum where they can try to manipulate the price one way or the other? I doubt there are enough of us on here to bother with that!

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    • Also, if you check the SEC filings, you'll see in the Jan 30 13G filing that BlackRock has reported their ownership at 5.4% of the stock.

      In their Sept 13F filing, they indicate ownership of just 733 shares, now it is 1.34 million shares.

      • 1 Reply to o08o.ugh64w
      • Gracias for the meaningful contribution! I don't think I personally want to put much store by what insiders do - they have their own agendas. And I don't think I want to put much store by what Blackrock do either, without knowing more about why they're doing it. I'm more interested in what the prospects look like for increasing market share in the ebook market, and this IADs thing, where management is sure putting down a big stake. There seems a lot of uncertainty and downside risk to me - not a conservative investment in my book. But will see what the next set of results looks like...

    • Ok, you've asked, so you shall receive.

      The basis for our own research stems from insider trading and then we extend it based on the fundamentals.

      INOD caught our attention a short while ago for the strong history of insider purchasing. Generally, we discount purchases by directors and apply a greater factor to purchases by officers. With INOD, we liked that senior management was purchasing fairly regularly. We did notice a few sales, but they were related to exercising options and we don't weigh those as heavily.

      Seeing the strong insider purchasing we looked at the financials/fundamentals.

      We like that there's no debt, about $1/share in cash on the balance sheet, and the company is profitable. With the stock at $3.84 right now, it's effectively valuing the business at $2.84/share, or about $70 million. Looking at trailing 12 months earnings of $9 million that's an effective P/E of 7.7, P/S of 0.77, and PEG shows an estimate of 0.39. These are all very strong numbers for a company in INOD's business.

      We also look at other things, but that's the bulk of what made us interested in INOD as a conservative investment with much more upside than downside.

 
INOD
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