Zacks Investment Research Upgrades IDI Inc. (COGT) to “Hold”
IDI Inc. (NASDAQ:COGT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Cogint, Inc. is involved in data analytics products and services. The Company offers cloud-based mobile user and data acquisition, audience, risk management and marketing solutions to the risk management industry. Cogint Inc., formerly known as IDI Inc., is based in Beverly Hills, United States. “
Several other research analysts also recently commented on COGT. Chardan Capital reiterated a “buy” rating and set a $12.50 target price on shares of IDI in a research note on Friday, October 21st. Barrington Research reiterated an “outperform” rating and set a $7.00 target price on shares of IDI in a research note on Friday, October 14th.
IDI (NASDAQ:COGT) traded up 1.47% on Wednesday, reaching $3.45. The company’s stock had a trading volume of 279,692 shares. The company’s market cap is $174.79 million. IDI has a 12 month low of $2.90 and a 12 month high of $9.88. The company has a 50-day moving average price of $3.67 and a 200 day moving average price of $4.23.
IDI (NASDAQ:COGT) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.07. The company had revenue of $52.18 million for the quarter, compared to analyst estimates of $46.95 million. IDI had a negative return on equity of 24.35% and a negative net margin of 39.27%. The firm’s revenue for the quarter was up 5118.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.29) EPS. On average, equities research analysts anticipate that IDI will post ($0.53) EPS for the current fiscal year.
In other news, CEO Ryan Schulke purchased 20,679 shares of IDI stock in a transaction that occurred on Monday, November 7th. The stock was acquired at an average cost of $3.51 per share, for a total transaction of $72,583.29. Following the purchase, the chief executive officer now directly owns 5,884,579 shares of the company’s stock, valued at approximately $20,654,872.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Phillip Md Et Al Frost purchased 25,000 shares of IDI stock in a transaction that occurred on Wednesday, October 19th. The stock was purchased at an average price of $3.46 per share, with a total value of $86,500.00. The disclosure for this purchase can be found here. 53.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers bought a new position in shares of IDI during the third quarter valued at $124,000. California State Teachers Retirement System acquired a new position in IDI during the third quarter worth approximately $161,000. Teachers Advisors LLC acquired a new position in IDI during the third quarter worth approximately $251,000. Bank of New York Mellon Corp acquired a new position in IDI during the third quarter worth approximately $269,000. Finally, BlackRock Investment Management LLC acquired a new position in IDI during the third quarter worth approximately $312,000. Institutional investors and hedge funds own 5.48% of the company’s stock.
IDI, Inc, formerly Tiger Media, Inc, is a data and analytics company providing information and marketing solutions to businesses in a range of industries. The Company operates through two segments: Information Services and Performance Marketing. The Company serves the risk management and the consumer marketing industries through its consolidated subsidiaries, Interactive Data, LLC and Fluent, LLC, respectively.
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