Inteliquent Inc. (IQNT) Stock Rating Upgraded by Zacks Investment Research
Inteliquent Inc. (NASDAQ:IQNT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Inteliquent, Inc. offers tandem interconnection services. It provides voice, Internet protocol transit and Ethernet solutions to carriers, service providers and content management firms. Inteliquent, Inc., formerly known as Neutral Tandem, Inc., is headquartered in Chicago. “
Several other research analysts have also weighed in on IQNT. Morgan Stanley reissued a “hold” rating and issued a $20.00 price objective on shares of Inteliquent in a research report on Monday, August 1st. BWS Financial lowered their price objective on Inteliquent from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Drexel Hamilton began coverage on Inteliquent in a research report on Tuesday, October 4th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Raymond James Financial Inc. lowered Inteliquent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.50.
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Inteliquent (NASDAQ:IQNT) traded up 1.02% during mid-day trading on Tuesday, reaching $16.89. The company had a trading volume of 156,460 shares. Inteliquent has a one year low of $14.56 and a one year high of $22.63. The company has a market capitalization of $578.20 million, a P/E ratio of 16.40 and a beta of 1.05. The stock has a 50 day moving average price of $16.45 and a 200 day moving average price of $17.18.
Inteliquent (NASDAQ:IQNT) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ 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 business earned $90.80 million during the quarter, compared to the consensus estimate of $90.28 million. During the same period last year, the business posted $0.29 earnings per share. The business’s revenue was up 71.6% on a year-over-year basis. On average, equities analysts expect that Inteliquent will post $1.19 earnings per share for the current fiscal year.
In other Inteliquent news, Director Rian J. Wren sold 44,949 shares of Inteliquent stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $20.21, for a total transaction of $908,419.29. Following the completion of the transaction, the director now owns 94,930 shares in the company, valued at approximately $1,918,535.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rian J. Wren sold 30,000 shares of Inteliquent stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $20.58, for a total value of $617,400.00. Following the transaction, the director now owns 94,930 shares of the company’s stock, valued at approximately $1,953,659.40. The disclosure for this sale can be found here. 5.50% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in Inteliquent by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,715,582 shares of the company’s stock worth $27,535,000 after buying an additional 286,380 shares during the period. TIAA CREF Investment Management LLC increased its position in Inteliquent by 6.0% in the first quarter. TIAA CREF Investment Management LLC now owns 225,238 shares of the company’s stock worth $3,615,000 after buying an additional 12,740 shares during the period. ClariVest Asset Management LLC increased its position in Inteliquent by 3.3% in the second quarter. ClariVest Asset Management LLC now owns 277,059 shares of the company’s stock worth $5,510,000 after buying an additional 8,939 shares during the period. BNP Paribas Arbitrage SA increased its position in Inteliquent by 7,685.3% in the second quarter. BNP Paribas Arbitrage SA now owns 11,133 shares of the company’s stock worth $221,000 after buying an additional 10,990 shares during the period. Finally, UBS Group AG increased its position in Inteliquent by 604.0% in the first quarter. UBS Group AG now owns 92,004 shares of the company’s stock worth $1,477,000 after buying an additional 78,935 shares during the period. Institutional investors and hedge funds own 88.98% of the company’s stock.
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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