Marshall Wace North America L.P. Purchases New Stake in Teligent, Inc. (TLGT)
Marshall Wace North America L.P. purchased a new position in shares of Teligent, Inc. (NASDAQ:TLGT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 68,734 shares of the company’s stock, valued at approximately $619,000. Marshall Wace North America L.P. owned 0.13% of Teligent at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TLGT. Parkwood LLC acquired a new stake in Teligent in the 2nd quarter valued at approximately $112,000. Teza Capital Management LLC acquired a new stake in Teligent in the 1st quarter valued at approximately $116,000. UBS Asset Management Americas Inc. acquired a new stake in Teligent in the 1st quarter valued at approximately $170,000. Renaissance Technologies LLC acquired a new stake in Teligent in the 1st quarter valued at approximately $198,000. Finally, American International Group Inc. raised its position in Teligent by 7.1% in the 1st quarter. American International Group Inc. now owns 25,488 shares of the company’s stock valued at $199,000 after buying an additional 1,680 shares during the last quarter. 66.81% of the stock is currently owned by institutional investors.
Shares of Teligent, Inc. (NASDAQ:TLGT) opened at 6.86 on Wednesday. Teligent, Inc. has a 12 month low of $5.75 and a 12 month high of $8.06. The company has a 50-day moving average price of $6.82 and a 200-day moving average price of $7.13. The firm’s market cap is $366.26 million.
Teligent (NASDAQ:TLGT) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Teligent had a positive return on equity of 1.49% and a negative net margin of 11.36%. The firm had revenue of $18.40 million for the quarter, compared to analyst estimates of $20.11 million. During the same period last year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Analysts forecast that Teligent, Inc. will post $0.07 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on TLGT. Canaccord Genuity reissued a “buy” rating and issued a $11.00 target price on shares of Teligent in a research report on Tuesday, August 8th. Roth Capital set a $9.00 target price on Teligent and gave the company a “buy” rating in a research report on Wednesday, August 9th. BidaskClub lowered Teligent from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Teligent from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, ValuEngine lowered Teligent from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $9.00.
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Teligent, Inc is a specialty generic pharmaceutical company. Under the Company’s own label, it markets and sells generic injectable pharmaceutical products in the United States and Canada. In the United States it marketed 16 generic topical pharmaceutical products and four branded generic pharmaceutical products, as of December 31, 2016.
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