Other analysts also recently issued research reports about the stock. BWS Financial reduced their price target on shares of Inteliquent from $30.00 to $24.00 and set a buy rating on the stock in a report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of Inteliquent from a hold rating to a sell rating in a report on Thursday, August 4th. Morgan Stanley reaffirmed a hold rating on shares of Inteliquent in a report on Thursday, June 30th. Finally, Raymond James Financial Inc. downgraded shares of Inteliquent from an outperform rating to a market perform rating in a report on Tuesday, September 20th. One equities 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 company. The stock has an average rating of Hold and an average target price of $22.50.
Inteliquent (NASDAQ:IQNT) traded down 0.391% during mid-day trading on Tuesday, reaching $16.565. 4,458 shares of the company traded hands. The stock has a market capitalization of $567.07 million, a PE ratio of 16.083 and a beta of 1.05. The stock has a 50-day moving average of $16.26 and a 200 day moving average of $17.10. Inteliquent has a 52-week low of $14.56 and a 52-week high of $22.63.
Inteliquent (NASDAQ:IQNT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.01. Inteliquent had a net margin of 11.17% and a return on equity of 19.26%. The business earned $90.80 million during the quarter, compared to analysts’ expectations of $90.28 million. During the same period last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 71.6% on a year-over-year basis. Equities research analysts expect that Inteliquent will post $1.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Investors of record on Wednesday, August 24th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Monday, August 22nd. Inteliquent’s payout ratio is 62.75%.
In related news, Director Rian J. Wren sold 44,949 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $20.21, for a total transaction of $908,419.29. Following the completion of the transaction, the director now owns 94,930 shares of the company’s stock, valued at $1,918,535.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rian J. Wren sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $20.44, for a total transaction of $919,800.00. Following the transaction, the director now directly owns 94,930 shares of the company’s stock, valued at approximately $1,940,369.20. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of IQNT. State Board of Administration of Florida Retirement System raised its position in shares of Inteliquent by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 48,582 shares of the company’s stock valued at $966,000 after buying an additional 535 shares during the period. Swiss National Bank raised its position in shares of Inteliquent by 2.6% in the second quarter. Swiss National Bank now owns 54,300 shares of the company’s stock valued at $1,080,000 after buying an additional 1,400 shares during the period. Fifth Third Bancorp raised its position in shares of Inteliquent by 6.4% in the second quarter. Fifth Third Bancorp now owns 26,398 shares of the company’s stock valued at $525,000 after buying an additional 1,597 shares during the period. American International Group Inc. raised its position in shares of Inteliquent by 9.2% in the second quarter. American International Group Inc. now owns 24,514 shares of the company’s stock valued at $488,000 after buying an additional 2,063 shares during the period. Finally, Algert Global LLC raised its position in shares of Inteliquent by 13.6% in the first quarter. Algert Global LLC now owns 17,571 shares of the company’s stock valued at $282,000 after buying an additional 2,104 shares during the period. 88.98% of the stock is owned by hedge funds and other institutional investors.
Inteliquent Company Profile
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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