Insider Selling: John F. Sheridan Sells 2,000 Shares of Neutral Tandem Stock (TNDM)
Neutral Tandem (NASDAQ:TNDM) COO John F. Sheridan sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $16.75, for a total transaction of $33,500.00. Following the completion of the sale, the chief operating officer now directly owns 1,198 shares of the company’s stock, valued at approximately $20,067. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Separately, analysts at Deutsche Bank upgraded shares of Neutral Tandem from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. They now have a $25.00 price target on the stock, down previously from $28.00. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $27.00.
Shares of Neutral Tandem (NASDAQ:TNDM) traded down 0.18% during mid-day trading on Monday, hitting $17.01. 42,544 shares of the company’s stock traded hands. Neutral Tandem has a 1-year low of $1.791 and a 1-year high of $30.25. The stock has a 50-day moving average of $16.43 and a 200-day moving average of $21.40. The company’s market cap is $390.9 million.
Neutral Tandem (NASDAQ:TNDM) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.96) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.69) by $0.27. The company had revenue of $8.10 million for the quarter, compared to the consensus estimate of $8.24 million. During the same quarter in the prior year, the company posted ($53.77) earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. Analysts expect that Neutral Tandem will post $-3.45 EPS for the current fiscal year.
Neutral Tandem, Inc provides tandem interconnection services principally to competitive carriers, including wireless, wireline, cable and broadband telephony companies.
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