California State Teachers Retirement System decreased its stake in shares of Inteliquent Inc. (NASDAQ:IQNT) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 68,377 shares of the company’s stock after selling 2,689 shares during the period. California State Teachers Retirement System owned about 0.20% of Inteliquent worth $1,360,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Virginia Retirement System acquired a new position in Inteliquent during the first quarter valued at about $982,000. TIAA CREF Investment Management LLC boosted its position in Inteliquent by 6.0% in the first quarter. TIAA CREF Investment Management LLC now owns 225,238 shares of the company’s stock valued at $3,615,000 after buying an additional 12,740 shares during the period. Teachers Advisors Inc. boosted its position in Inteliquent by 2.5% in the first quarter. Teachers Advisors Inc. now owns 869,532 shares of the company’s stock valued at $13,956,000 after buying an additional 21,124 shares during the period. Prudential Financial Inc. boosted its position in Inteliquent by 34.7% in the first quarter. Prudential Financial Inc. now owns 379,394 shares of the company’s stock valued at $6,090,000 after buying an additional 97,799 shares during the period. Finally, Algert Global LLC boosted its position in Inteliquent by 13.6% in the first quarter. Algert Global LLC now owns 17,571 shares of the company’s stock valued at $282,000 after buying an additional 2,104 shares during the period. 88.98% of the stock is currently owned by hedge funds and other institutional investors.

Inteliquent Inc. (NASDAQ:IQNT) traded up 2.28% during midday trading on Thursday, hitting $16.15. The company had a trading volume of 237,855 shares. Inteliquent Inc. has a 52 week low of $14.56 and a 52 week high of $22.86. The company has a market capitalization of $552.86 million, a P/E ratio of 15.68 and a beta of 1.20. The stock has a 50 day moving average price of $16.19 and a 200 day moving average price of $17.10.

Inteliquent (NASDAQ:IQNT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. Inteliquent had a net margin of 11.17% and a return on equity of 19.26%. The firm had revenue of $90.80 million for the quarter, compared to the consensus estimate of $90.28 million. During the same period in the previous year, the company posted $0.29 earnings per share. Inteliquent’s quarterly revenue was up 71.6% on a year-over-year basis. Equities analysts forecast that Inteliquent Inc. will post $1.21 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Wednesday, August 24th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Monday, August 22nd. Inteliquent’s payout ratio is presently 62.75%.

Several equities analysts have recently issued reports on IQNT shares. Morgan Stanley reissued a “hold” rating on shares of Inteliquent in a research note on Thursday, June 30th. BWS Financial reduced their target price on Inteliquent from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Zacks Investment Research cut Inteliquent from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Finally, Raymond James Financial Inc. cut Inteliquent from an “outperform” rating to a “market perform” rating in a research note on Tuesday.

In other news, Director Rian J. Wren sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $20.71, for a total value of $310,650.00. Following the completion of the sale, the director now directly owns 94,930 shares of the company’s stock, valued at approximately $1,966,000.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rian J. Wren sold 15,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $20.01, for a total value of $304,152.00. Following the completion of the sale, the director now directly owns 94,930 shares of the company’s stock, valued at $1,899,549.30. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

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.

5 Day Chart for NASDAQ:IQNT

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