Interactive Intelligence Group Inc. (ININ) Given Consensus Recommendation of “Hold” by Brokerages
Interactive Intelligence Group Inc. (NASDAQ:ININ) has been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $43.20.
ININ has been the topic of several research reports. Zacks Investment Research lowered Interactive Intelligence Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Morgan Stanley reissued a “hold” rating and set a $45.00 target price on shares of Interactive Intelligence Group in a research note on Tuesday, August 2nd. Roth Capital downgraded Interactive Intelligence Group from a “buy” rating to a “neutral” rating in a report on Thursday, September 1st. TheStreet upgraded Interactive Intelligence Group from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Finally, Summit Redstone restated a “hold” rating and set a $46.00 price target on shares of Interactive Intelligence Group in a report on Friday, July 15th.
Shares of Interactive Intelligence Group (NASDAQ:ININ) traded up 0.2327% during midday trading on Monday, reaching $60.3501. The company’s stock had a trading volume of 28,301 shares. Interactive Intelligence Group has a 12-month low of $21.42 and a 12-month high of $60.77. The stock’s 50-day moving average price is $59.94 and its 200-day moving average price is $47.24. The company’s market cap is $1.34 billion.
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Interactive Intelligence Group (NASDAQ:ININ) last posted its earnings results on Monday, August 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.11. Interactive Intelligence Group had a negative return on equity of 10.70% and a negative net margin of 8.88%. The firm had revenue of $108 million for the quarter, compared to analyst estimates of $103.20 million. During the same quarter in the prior year, the company earned $0.01 EPS. Interactive Intelligence Group’s revenue was up 13.0% on a year-over-year basis. On average, analysts expect that Interactive Intelligence Group will post ($0.08) EPS for the current fiscal year.
In related news, Director Mark E. Hill sold 4,976 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $60.42, for a total transaction of $300,649.92. Following the transaction, the director now owns 89,088 shares in the company, valued at approximately $5,382,696.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashley A. Vukovits sold 11,224 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $60.40, for a total value of $677,929.60. The disclosure for this sale can be found here. 21.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ININ. Whale Rock Capital Management LLC increased its position in Interactive Intelligence Group by 86.2% in the second quarter. Whale Rock Capital Management LLC now owns 1,517,103 shares of the company’s stock worth $62,186,000 after buying an additional 702,462 shares in the last quarter. Bank of Montreal Can purchased a new position in Interactive Intelligence Group during the second quarter worth about $6,052,000. FMR LLC increased its position in Interactive Intelligence Group by 10.5% in the second quarter. FMR LLC now owns 1,130,117 shares of the company’s stock worth $46,323,000 after buying an additional 107,230 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Interactive Intelligence Group during the second quarter worth about $2,165,000. Finally, BlackRock Fund Advisors increased its position in Interactive Intelligence Group by 4.5% in the second quarter. BlackRock Fund Advisors now owns 1,140,830 shares of the company’s stock worth $46,763,000 after buying an additional 49,467 shares in the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.
About Interactive Intelligence Group
Interactive Intelligence Group, Inc is a provider of software and cloud services for customer engagement, communications and collaboration. The Company operates in the segment of interaction management software solutions licensing and associated services. It offers approximately three types of products, including on-premises software; a single-tenant cloud service, and a multi-tenant cloud service.
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