Inteliquent Inc. (IQNT) Shares Bought by BlackRock Advisors LLC
BlackRock Advisors LLC increased its position in shares of Inteliquent Inc. (NASDAQ:IQNT) by 17.0% during the second quarter, Holdings Channel reports. The institutional investor owned 253,193 shares of the company’s stock after buying an additional 36,827 shares during the period. BlackRock Advisors LLC owned 0.74% of Inteliquent worth $5,036,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position 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 worth $27,535,000 after buying an additional 286,380 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Inteliquent by 6.0% in the first quarter. TIAA CREF Investment Management LLC now owns 225,238 shares of the company’s stock worth $3,615,000 after buying an additional 12,740 shares in the last quarter. ClariVest Asset Management LLC raised its position in shares of Inteliquent by 3.3% in the second quarter. ClariVest Asset Management LLC now owns 277,059 shares of the company’s stock worth $5,510,000 after buying an additional 8,939 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Inteliquent by 7,685.3% in the second quarter. BNP Paribas Arbitrage SA now owns 11,133 shares of the company’s stock worth $221,000 after buying an additional 10,990 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Inteliquent by 604.0% in the first quarter. UBS Group AG now owns 92,004 shares of the company’s stock worth $1,477,000 after buying an additional 78,935 shares in the last quarter. 88.98% of the stock is owned by institutional investors and hedge funds.
Shares of Inteliquent Inc. (NASDAQ:IQNT) opened at 16.72 on Tuesday. Inteliquent Inc. has a 52 week low of $14.56 and a 52 week high of $22.63. The company has a market capitalization of $572.38 million, a PE ratio of 16.23 and a beta of 1.05. The firm’s 50-day moving average is $16.44 and its 200 day moving average is $17.18.
Inteliquent (NASDAQ:IQNT) last announced its quarterly earnings data 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 earned $90.80 million during the quarter, compared to the consensus estimate of $90.28 million. During the same period last year, the business earned $0.29 EPS. The business’s revenue was up 71.6% on a year-over-year basis. On average, analysts anticipate that Inteliquent Inc. will post $1.19 earnings per share for the current fiscal year.
IQNT has been the subject of a number of research analyst reports. Raymond James Financial Inc. lowered shares of Inteliquent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th. Drexel Hamilton started coverage on shares of Inteliquent in a research report on Tuesday, October 4th. They issued a “buy” rating and a $24.00 price target for the company. Morgan Stanley reissued a “hold” rating and issued a $20.00 price target on shares of Inteliquent in a research report on Monday, August 1st. Zacks Investment Research lowered shares of Inteliquent from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Finally, BWS Financial dropped their price target on shares of Inteliquent from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $22.50.
In related news, Director Rian J. Wren sold 30,000 shares of Inteliquent stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $20.58, for a total transaction of $617,400.00. Following the completion of the sale, the director now owns 94,930 shares of the company’s stock, valued at approximately $1,953,659.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rian J. Wren sold 15,000 shares of Inteliquent stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $20.71, for a total transaction of $310,650.00. Following the sale, the director now directly owns 94,930 shares of the company’s stock, valued at approximately $1,966,000.30. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.
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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