Inteliquent Inc. (IQNT) Now Covered by Drexel Hamilton
Equities researchers at Drexel Hamilton began coverage on shares of Inteliquent Inc. (NASDAQ:IQNT) in a report released on Tuesday. The brokerage set a “buy” rating on the stock.
A number of other equities research analysts have also commented on the company. Raymond James Financial Inc. lowered Inteliquent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th. Zacks Investment Research lowered Inteliquent from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. BWS Financial decreased their price target on Inteliquent from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Finally, Morgan Stanley restated a “hold” rating on shares of Inteliquent in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Inteliquent currently has a consensus rating of “Hold” and a consensus price target of $22.00.
Shares of Inteliquent (NASDAQ:IQNT) opened at 16.03 on Tuesday. The stock has a 50 day moving average price of $16.18 and a 200-day moving average price of $17.10. The company has a market cap of $548.76 million, a P/E ratio of 15.56 and a beta of 1.05. Inteliquent has a 1-year low of $14.56 and a 1-year high of $22.63.
Inteliquent (NASDAQ:IQNT) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $90.80 million for the quarter, compared to the consensus estimate of $90.28 million. Inteliquent had a return on equity of 19.26% and a net margin of 11.17%. The firm’s revenue was up 71.6% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. Analysts predict that Inteliquent will post $1.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Wednesday, August 24th were given a dividend of $0.16 per share. The ex-dividend date was Monday, August 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.99%. Inteliquent’s dividend payout ratio (DPR) is presently 62.75%.
In other Inteliquent news, Director Rian J. Wren sold 45,000 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $20.44, for a total value of $919,800.00. Following the transaction, the director now directly owns 94,930 shares in the company, valued at approximately $1,940,369.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rian J. Wren sold 15,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 94,930 shares in the company, valued at $1,966,000.30. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IQNT. Renaissance Technologies LLC raised its position in shares of 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 last quarter. TIAA CREF Investment Management LLC raised its position in shares of 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 last quarter. BNP Paribas Arbitrage SA raised its position in shares of 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 last quarter. UBS Group AG raised its position in shares of 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 last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Inteliquent during the second quarter worth approximately $157,000. Hedge funds and other institutional investors 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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