Insider Selling: John F. Sheridan Unloads 2,000 Shares of Neutral Tandem Stock (TNDM)
Neutral Tandem (NASDAQ:TNDM) COO John F. Sheridan unloaded 2,000 shares of Neutral Tandem stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $16.42, for a total value of $32,840.00. Following the transaction, the chief operating officer now directly owns 1,198 shares in the company, valued at approximately $19,671. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Neutral Tandem (NASDAQ:TNDM) traded up 3.50% during mid-day trading on Wednesday, hitting $17.17. 172,252 shares of the company’s stock traded hands. Neutral Tandem has a 52 week low of $1.791 and a 52 week high of $30.25. The stock’s 50-day moving average is $16.55 and its 200-day moving average is $20.97. The company’s market cap is $394.6 million.
Neutral Tandem (NASDAQ:TNDM) last announced its earnings results on Tuesday, May 6th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($53.77) earnings per share. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, analysts predict that Neutral Tandem will post $-3.53 earnings per share for the current fiscal year.
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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $27.00.
Neutral Tandem, Inc provides tandem interconnection services principally to competitive carriers, including wireless, wireline, cable and broadband telephony companies.
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