Raymond James Financial Inc. cut shares of Inteliquent Inc. (NASDAQ:IQNT) from an outperform rating to a market perform rating in a report released on Tuesday morning.

Several other research analysts have also recently weighed in on IQNT. Morgan Stanley reaffirmed a hold rating and set a $20.00 target price on shares of Inteliquent in a research note on Monday, August 1st. 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 note on Wednesday, August 3rd. Finally, Zacks Investment Research cut Inteliquent from a hold rating to a sell rating in a research note on Thursday, August 4th.

Inteliquent (NASDAQ:IQNT) opened at 16.15 on Tuesday. The firm has a market cap of $552.86 million, a P/E ratio of 15.68 and a beta of 1.20. The stock’s 50 day moving average is $16.18 and its 200-day moving average is $17.09. Inteliquent has a 1-year low of $14.56 and a 1-year high of $22.86.

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

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

In related news, Director Rian J. Wren sold 15,000 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rian J. Wren sold 45,000 shares of the 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 $1,940,369.20. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in IQNT. BlackRock Fund Advisors increased its stake in shares of Inteliquent by 141.5% in the second quarter. BlackRock Fund Advisors now owns 2,345,354 shares of the company’s stock valued at $46,649,000 after buying an additional 1,374,028 shares in the last quarter. LSV Asset Management increased its stake in shares of Inteliquent by 22.7% in the second quarter. LSV Asset Management now owns 1,780,064 shares of the company’s stock valued at $35,405,000 after buying an additional 329,077 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Inteliquent by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,715,582 shares of the company’s stock valued at $27,535,000 after buying an additional 286,380 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Inteliquent during the second quarter valued at about $5,088,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Inteliquent during the second quarter valued at about $4,770,000. 88.98% of the stock is owned by hedge funds and other institutional investors.

About Inteliquent

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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