Inteliquent Inc. (IQNT) Downgraded to “Market Perform” at Raymond James Financial Inc.
Inteliquent Inc. (NASDAQ:IQNT) was downgraded by research analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday.
Other analysts also recently issued research reports about the company. BWS Financial reduced their price objective on Inteliquent from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded Inteliquent from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Finally, Morgan Stanley reissued a “hold” rating on shares of Inteliquent in a research report on Thursday, June 30th.
Shares of Inteliquent (NASDAQ:IQNT) traded down 8.20% during trading on Tuesday, reaching $15.34. The company’s stock had a trading volume of 1,179,445 shares. The stock has a market cap of $525.13 million, a price-to-earnings ratio of 14.89 and a beta of 1.20. The company has a 50-day moving average price of $16.37 and a 200-day moving average price of $17.12. Inteliquent has a one year low of $14.56 and a one year high of $22.86.
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Inteliquent (NASDAQ:IQNT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. Inteliquent had a return on equity of 19.26% and a net margin of 11.17%. The firm earned $90.80 million during the quarter, compared to the consensus estimate of $90.28 million. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue was up 71.6% compared to the same quarter last year. On average, equities research analysts forecast that Inteliquent will post $1.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Wednesday, August 24th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, August 22nd. Inteliquent’s dividend payout ratio is currently 62.75%.
In other news, Director Rian J. Wren sold 14,949 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $20.08, for a total transaction of $300,175.92. Following the transaction, the director now owns 94,930 shares of the company’s stock, valued at approximately $1,906,194.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rian J. Wren sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $20.71, for a total value of $310,650.00. Following the transaction, the director now directly owns 94,930 shares in the company, valued at approximately $1,966,000.30. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in IQNT. Cutler Group LP increased its position in shares of Inteliquent by 199.3% in the second quarter. Cutler Group LP now owns 5,175 shares of the company’s stock valued at $102,000 after buying an additional 3,446 shares during the period. Advisor Group Inc. acquired a new position in shares of Inteliquent during the second quarter valued at approximately $110,000. Mason Street Advisors LLC acquired a new position in shares of Inteliquent during the second quarter valued at approximately $134,000. Envestnet Asset Management Inc. acquired a new position in shares of Inteliquent during the first quarter valued at approximately $109,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Inteliquent during the second quarter valued at approximately $157,000. 88.98% of the stock is currently owned by hedge funds and other institutional investors.
Inteliquent Company Profile
Inteliquent, Inc is a provider of voice telecommunications services primarily on a wholesale basis. The Company offers its services using an all-Internet Protocol (IP) network, which enables to deliver connectivity for a range of media, including voice, and data and video. The Company’s solutions enable carriers and other providers to deliver voice traffic or other services where they do not have their own network.
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