Inteliquent Inc. (IQNT) Trading 2.9% Higher
Shares of Inteliquent Inc. (NASDAQ:IQNT) traded up 2.9% during trading on Thursday . The company traded as high as $16.29 and last traded at $16.21, with a volume of 416,464 shares traded. The stock had previously closed at $15.76.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Inteliquent from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. BWS Financial lowered their target price on shares of Inteliquent from $30.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $20.00 target price on shares of Inteliquent in a report on Monday, August 1st.
The stock’s 50-day moving average is $18.26 and its 200 day moving average is $17.21. The stock has a market capitalization of $558.34 million and a P/E ratio of 15.83.
Inteliquent (NASDAQ:IQNT) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. The firm had revenue of $90.80 million for the quarter, compared to the consensus estimate of $90.28 million. The company’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 earnings per share. On average, equities research analysts expect that Inteliquent Inc. will post $1.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 7th. Stockholders of record on Wednesday, August 24th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, August 22nd.
In other news, Director Rian J. Wren sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $20.44, for a total transaction of $919,800.00. Following the completion of the sale, the director now owns 94,930 shares of the company’s stock, valued at approximately $1,940,369.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO John M. Schoder sold 4,807 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $18.25, for a total transaction of $87,727.75. Following the sale, the chief marketing officer now directly owns 43,365 shares of the company’s stock, valued at approximately $791,411.25. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Inteliquent stock. Cornerstone Capital Management Holdings LLC. boosted its position in Inteliquent Inc. (NASDAQ:IQNT) by 691.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,274 shares of the company’s stock after buying an additional 62,274 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.21% of Inteliquent worth $1,267,000 as of its most recent filing with the SEC.
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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