ClariVest Asset Management LLC increased its position in shares of Inteliquent Inc. (NASDAQ:IQNT) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,059 shares of the company’s stock after buying an additional 8,939 shares during the period. ClariVest Asset Management LLC’s holdings in Inteliquent were worth $5,510,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cutler Group LP raised its position in shares of Inteliquent by 199.3% in the second quarter. Cutler Group LP now owns 5,175 shares of the company’s stock worth $102,000 after buying an additional 3,446 shares during the last quarter. Edge Wealth Management LLC bought a new position in shares of Inteliquent during the second quarter worth $197,000. 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 during the last quarter. AMP Capital Investors Ltd bought a new position in shares of Inteliquent during the first quarter worth $336,000. Finally, 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 during the last quarter. 88.98% of the stock is currently owned by hedge funds and other institutional investors.
Inteliquent Inc. (NASDAQ:IQNT) traded down 0.84% during mid-day trading on Friday, hitting $16.49. 124,902 shares of the stock were exchanged. The stock has a 50 day moving average price of $16.26 and a 200 day moving average price of $17.10. The company has a market capitalization of $564.50 million, a PE ratio of 16.01 and a beta of 1.05. Inteliquent Inc. has a 1-year low of $14.56 and a 1-year high of $22.63.
Inteliquent (NASDAQ:IQNT) last released its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $90.80 million for the quarter, compared to analyst estimates of $90.28 million. Inteliquent had a net margin of 11.17% and a return on equity of 19.26%. The business’s revenue for the quarter was up 71.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. On average, equities analysts anticipate that Inteliquent Inc. will post $1.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Wednesday, August 24th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Monday, August 22nd. Inteliquent’s dividend payout ratio is presently 62.75%.
A number of brokerages have weighed in on IQNT. Morgan Stanley reaffirmed a “hold” rating and issued a $20.00 price target on shares of Inteliquent in a research note on Monday, August 1st. Zacks Investment Research lowered shares of Inteliquent from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Raymond James Financial Inc. lowered shares of Inteliquent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 20th. BWS Financial cut their price target on shares of Inteliquent from $30.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Finally, Drexel Hamilton assumed coverage on shares of Inteliquent in a report on Tuesday. They issued a “buy” rating and a $24.00 price objective on the stock. 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 stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.50.
In other Inteliquent news, Director Rian J. Wren sold 45,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rian J. Wren sold 15,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were 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. Company insiders own 5.50% of the company’s stock.
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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