Inteliquent Inc. (IQNT) Trading Down 6.7%
Inteliquent Inc. (NASDAQ:IQNT) dropped 6.7% on Tuesday . The company traded as low as $14.90 and last traded at $15.59, with a volume of 768,005 shares trading hands. The stock had previously closed at $16.71.
IQNT has been the subject of a number of recent analyst reports. Raymond James Financial Inc. lowered Inteliquent from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Zacks Investment Research lowered Inteliquent from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. BWS Financial decreased their target price on Inteliquent from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Finally, Morgan Stanley reiterated a “hold” rating on shares of Inteliquent in a research report on Thursday, June 30th.
The stock has a market capitalization of $525.13 million, a P/E ratio of 14.89 and a beta of 1.20. The company has a 50-day moving average of $16.37 and a 200 day moving average of $17.12.
Inteliquent (NASDAQ:IQNT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. Inteliquent had a return on equity of 19.26% and a net margin of 11.17%. The company earned $90.80 million during the quarter, compared to analyst estimates of $90.28 million. During the same period in the prior year, the firm earned $0.29 EPS. Inteliquent’s quarterly revenue was up 71.6% on a year-over-year basis. Equities research analysts expect that Inteliquent Inc. will post $1.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Wednesday, August 24th were given a $0.16 dividend. The ex-dividend date was Monday, August 22nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.17%. Inteliquent’s dividend payout ratio is currently 62.75%.
In other Inteliquent news, Director Rian J. Wren sold 15,400 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $20.15, for a total value of $310,310.00. Following the completion of the sale, the director now owns 80,330 shares of the company’s stock, valued at $1,618,649.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rian J. Wren sold 45,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $20.44, for a total value of $919,800.00. Following the completion of the sale, the director now directly owns 94,930 shares of the company’s stock, valued at approximately $1,940,369.20. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in IQNT. Cutler Group LP boosted its stake in shares of Inteliquent by 199.3% in the second quarter. Cutler Group LP now owns 5,175 shares of the company’s stock worth $102,000 after buying an additional 3,446 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Inteliquent during the first quarter worth $109,000. Advisor Group Inc. bought a new stake in shares of Inteliquent during the second quarter worth $110,000. Mason Street Advisors LLC bought a new stake in shares of Inteliquent during the second quarter worth $134,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in shares of Inteliquent during the second quarter worth $157,000. 88.98% of the stock is owned by institutional investors.
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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