Mason Street Advisors LLC bought a new position in shares of Inteliquent Inc. (NASDAQ:IQNT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,715 shares of the company’s stock, valued at approximately $134,000.
Other large investors also recently made changes to their positions in the company. TIAA CREF Investment Management LLC raised its stake in shares of Inteliquent by 6.0% in the first quarter. TIAA CREF Investment Management LLC now owns 225,238 shares of the company’s stock worth $3,615,000 after buying an additional 12,740 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Inteliquent by 2.5% in the first quarter. Teachers Advisors Inc. now owns 869,532 shares of the company’s stock worth $13,956,000 after buying an additional 21,124 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Inteliquent by 34.7% in the first quarter. Prudential Financial Inc. now owns 379,394 shares of the company’s stock worth $6,090,000 after buying an additional 97,799 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 in the last quarter. Finally, Menta Capital LLC raised its stake in shares of Inteliquent by 63.2% in the first quarter. Menta Capital LLC now owns 37,802 shares of the company’s stock worth $607,000 after buying an additional 14,645 shares in the last quarter. Institutional investors and hedge funds own 88.98% of the company’s stock.
Shares of Inteliquent Inc. (NASDAQ:IQNT) opened at 16.58 on Monday. The stock has a market capitalization of $567.58 million, a price-to-earnings ratio of 16.10 and a beta of 1.05. Inteliquent Inc. has a 1-year low of $14.56 and a 1-year high of $22.63. The stock has a 50 day moving average price of $16.43 and a 200 day moving average price of $17.16.
Inteliquent (NASDAQ:IQNT) last announced its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm earned $90.80 million during 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%. Inteliquent’s revenue was up 71.6% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. Equities research analysts anticipate that Inteliquent Inc. will post $1.19 EPS for the current year.
IQNT has been the subject of several analyst reports. Morgan Stanley restated a “hold” rating on shares of Inteliquent in a research note on Thursday, June 30th. BWS Financial reduced their price objective on Inteliquent from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Zacks Investment Research lowered Inteliquent from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. Raymond James Financial Inc. lowered Inteliquent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 20th. Finally, Drexel Hamilton initiated coverage on Inteliquent in a research note on Tuesday, October 4th. They issued a “buy” rating and a $24.00 price objective for the company. One 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’s stock. Inteliquent presently has a consensus rating of “Hold” and an average price target of $22.50.
In other Inteliquent news, Director Rian J. Wren sold 44,949 shares of the firm’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 value of $908,419.29. Following the completion of the sale, the director now directly owns 94,930 shares in the company, valued at $1,918,535.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rian J. Wren sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $20.58, for a total transaction of $617,400.00. Following the completion of the sale, the director now owns 94,930 shares of the company’s stock, valued at $1,953,659.40. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.
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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