Nationwide Fund Advisors increased its stake in Inteliquent Inc. (NASDAQ:IQNT) by 17.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 209,652 shares of the company’s stock after buying an additional 30,416 shares during the period. Nationwide Fund Advisors owned about 0.61% of Inteliquent worth $4,170,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. LSV Asset Management boosted 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 boosted its position in 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 during the period. Emerald Acquisition Ltd. purchased a new position in Inteliquent during the second quarter worth $5,088,000. JPMorgan Chase & Co. boosted its position in Inteliquent by 18.3% in the first quarter. JPMorgan Chase & Co. now owns 1,453,770 shares of the company’s stock worth $23,333,000 after buying an additional 224,910 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Inteliquent by 40.2% in the second quarter. Bank of New York Mellon Corp now owns 682,670 shares of the company’s stock worth $13,579,000 after buying an additional 195,686 shares during the period. 88.98% of the stock is currently owned by hedge funds and other institutional investors.
Inteliquent Inc. (NASDAQ:IQNT) traded down 2.54% on Monday, hitting $15.73. 88,842 shares of the stock were exchanged. Inteliquent Inc. has a 52-week low of $14.56 and a 52-week high of $22.78. The firm has a market cap of $538.49 million, a PE ratio of 15.27 and a beta of 1.05. The stock’s 50 day moving average price is $16.17 and its 200 day moving average price is $17.08.
Inteliquent (NASDAQ:IQNT) last announced its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (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 business had revenue of $90.80 million for the quarter, compared to analysts’ expectations of $90.28 million. During the same quarter last year, the business earned $0.29 EPS. The company’s quarterly revenue was up 71.6% on a year-over-year basis. Equities research analysts forecast that Inteliquent Inc. will post $1.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Wednesday, August 24th were given a dividend of $0.16 per share. 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 3.97%. Inteliquent’s dividend payout ratio (DPR) is 62.75%.
A number of research analysts have weighed in on the stock. Morgan Stanley reiterated a “hold” rating on shares of Inteliquent in a research report on Thursday, June 30th. BWS Financial cut their price objective on shares of Inteliquent from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Raymond James Financial Inc. cut shares of Inteliquent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th. Finally, Zacks Investment Research cut shares of Inteliquent from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th.
In other Inteliquent news, Director Rian J. Wren sold 15,200 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $20.01, for a total value of $304,152.00. Following the transaction, the director now owns 94,930 shares in the company, valued at approximately $1,899,549.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rian J. Wren sold 45,000 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $20.44, for a total value of $919,800.00. Following the completion of the transaction, the director now owns 94,930 shares in the company, valued at approximately $1,940,369.20. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.
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.
Want to see what other hedge funds are holding IQNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inteliquent Inc. (NASDAQ:IQNT).
Receive News & Ratings for Inteliquent Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inteliquent Inc. and related companies with MarketBeat.com's FREE daily email newsletter.