Insider Buying: Inteliquent Director Purchases 20,000 Shares of Stock (IQNT)
Inteliquent (NASDAQ:IQNT) Director Joseph Beatty acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $10.35 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now directly owns 45,174 shares in the company, valued at approximately $467,551. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Inteliquent (NASDAQ:IQNT) traded down 0.87% on Monday, hitting $10.27. The stock had a trading volume of 431,789 shares. Inteliquent has a 1-year low of $5.73 and a 1-year high of $15.93. The stock has a 50-day moving average of $13.76 and a 200-day moving average of $13.64. The company has a market cap of $340.0 million and a price-to-earnings ratio of 10.01.
Inteliquent (NASDAQ:IQNT) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $54.90 million for the quarter, compared to the consensus estimate of $55.24 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that Inteliquent will post $1.02 EPS for the current fiscal year.
A number of analysts have recently weighed in on IQNT shares. Analysts at Zacks downgraded shares of Inteliquent from an “outperform” rating to a “neutral” rating in a research note on Monday, July 28th. They now have a $13.90 price target on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Inteliquent in a research note on Friday, July 25th. They now have a $15.00 price target on the stock, down previously from $17.00. Finally, analysts at BWS Financial reiterated a “buy” rating on shares of Inteliquent in a research note on Monday, June 16th.
Inteliquent Inc, formerly Neutral Tandem, Inc, doing business as Inteliquent provides solutions for voice, data, and hosted services globally.
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