Kennedy Capital Management Inc. Has $2.40 Million Holdings in Internap Corporation (INAP)
Kennedy Capital Management Inc. decreased its position in Internap Corporation (NASDAQ:INAP) by 31.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 652,630 shares of the information technology services provider’s stock after selling 296,094 shares during the period. Kennedy Capital Management Inc. owned 1.01% of Internap Corporation worth $2,395,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. KCG Holdings Inc. increased its stake in Internap Corporation by 85.5% in the 1st quarter. KCG Holdings Inc. now owns 27,373 shares of the information technology services provider’s stock valued at $102,000 after buying an additional 12,620 shares during the last quarter. Atlantic Trust LLC increased its stake in shares of Internap Corporation by 24.5% during the 1st quarter. Atlantic Trust LLC now owns 30,910 shares of the information technology services provider’s stock worth $115,000 after purchasing an additional 6,085 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Internap Corporation during the 1st quarter worth approximately $155,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Internap Corporation during the 1st quarter worth approximately $157,000. Finally, Brighton Jones LLC purchased a new stake in shares of Internap Corporation during the 2nd quarter worth approximately $160,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.
Internap Corporation (NASDAQ:INAP) opened at 4.14 on Tuesday. The company has a 50-day moving average of $4.33 and a 200-day moving average of $3.67. The stock’s market capitalization is $329.16 million. Internap Corporation has a 1-year low of $0.80 and a 1-year high of $4.78.
Internap Corporation (NASDAQ:INAP) last announced its earnings results on Thursday, August 3rd. The information technology services provider reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). Internap Corporation had a negative net margin of 45.52% and a negative return on equity of 234.35%. The business had revenue of $69.64 million for the quarter, compared to analysts’ expectations of $70.59 million. During the same period in the prior year, the company posted ($0.21) earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts anticipate that Internap Corporation will post ($0.46) earnings per share for the current fiscal year.
In other Internap Corporation news, major shareholder Park West Asset Management Llc sold 125,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $4.19, for a total transaction of $523,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 3,482,700 shares of company stock valued at $13,640,242. 5.83% of the stock is owned by corporate insiders.
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Several equities research analysts have recently issued reports on INAP shares. BidaskClub upgraded shares of Internap Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Raymond James Financial, Inc. upgraded shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 price target for the company in a research note on Friday, August 4th. Finally, UBS AG upgraded shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $5.31.
Internap Corporation Company Profile
Internap Corporation is a technology provider of Internet infrastructure. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.
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