Insider Selling: Edward Greenberg Sells 4,000 Shares of Inteliquent Stock (IQNT)
Inteliquent (NASDAQ:IQNT) Director Edward Greenberg sold 4,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $12.13, for a total value of $48,520.00. Following the completion of the sale, the director now directly owns 16,174 shares in the company, valued at approximately $196,191. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Inteliquent (NASDAQ:IQNT) traded up 2.79% on Tuesday, hitting $12.15. The stock had a trading volume of 386,014 shares. Inteliquent has a 1-year low of $7.26 and a 1-year high of $15.93. The stock has a 50-day moving average of $12.01 and a 200-day moving average of $13.59. The company has a market cap of $402.3 million and a P/E ratio of 11.42.
Inteliquent (NASDAQ:IQNT) last announced its earnings results on Thursday, July 24th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.08 earnings per share. Inteliquent’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that Inteliquent will post $0.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 24th. Investors of record on Wednesday, September 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Monday, September 8th. This is an increase from Inteliquent’s previous quarterly dividend of $0.08.
Several analysts have recently commented on the stock. 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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