Inteliquent Inc. (IQNT) Upgraded to Hold by Zacks Investment Research
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. “
A number of other equities analysts have also recently commented on the company. Drexel Hamilton began coverage on Inteliquent in a research note on Tuesday, October 4th. They issued a buy rating and a $24.00 price target on the stock. Raymond James Financial Inc. cut Inteliquent from an outperform rating to a market perform rating in a research note on Tuesday, September 20th. 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 note on Wednesday, August 3rd. Finally, Morgan Stanley reissued a hold rating and set a $20.00 target price on shares of Inteliquent in a research note on Monday, August 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $22.50.
Shares of Inteliquent (NASDAQ:IQNT) opened at 16.89 on Tuesday. Inteliquent has a 52-week low of $14.56 and a 52-week high of $22.63. The stock has a market capitalization of $578.20 million, a price-to-earnings ratio of 16.40 and a beta of 1.05. The company has a 50-day moving average price of $16.45 and a 200-day moving average price of $17.18.
Inteliquent (NASDAQ:IQNT) last announced 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 company earned $90.80 million during the quarter, compared to analysts’ expectations of $90.28 million. Inteliquent had a return on equity of 19.26% and a net margin of 11.17%. Inteliquent’s revenue for the quarter was up 71.6% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. On average, equities analysts anticipate that Inteliquent will post $1.19 earnings per share for the current year.
In other news, Director Rian J. Wren sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $20.60, for a total transaction of $927,000.00. Following the transaction, the director now directly owns 94,930 shares of the company’s stock, valued at $1,955,558. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 $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 bought and sold shares of IQNT. Mason Street Advisors LLC acquired a new position in Inteliquent during the second quarter valued at about $134,000. Royal Bank of Canada boosted its position in Inteliquent by 188,914.0% in the second quarter. Royal Bank of Canada now owns 189,014 shares of the company’s stock valued at $3,760,000 after buying an additional 188,914 shares during the period. Calvert Investment Management Inc. acquired a new position in Inteliquent during the second quarter valued at about $3,515,000. Legal & General Group Plc boosted its position in Inteliquent by 457.7% in the second quarter. Legal & General Group Plc now owns 28,025 shares of the company’s stock valued at $555,000 after buying an additional 23,000 shares during the period. Finally, AHL Partners LLP acquired a new position in Inteliquent during the second quarter valued at about $204,000. 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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