Avenir Corp lessened its holdings in Internap Corp (NASDAQ:INAP) by 77.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,744,719 shares of the information technology services provider’s stock after selling 6,014,705 shares during the period. Internap accounts for about 2.5% of Avenir Corp’s investment portfolio, making the stock its 13th biggest holding. Avenir Corp owned approximately 0.08% of Internap worth $27,410,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in INAP. Wells Fargo & Company MN lifted its stake in shares of Internap by 5,733.9% in the 2nd quarter. Wells Fargo & Company MN now owns 59,622 shares of the information technology services provider’s stock valued at $219,000 after purchasing an additional 58,600 shares during the last quarter. TIAA CREF Investment Management LLC acquired a new position in Internap during the 2nd quarter worth $797,000. Nationwide Fund Advisors acquired a new position in Internap during the 2nd quarter worth $166,000. New York State Common Retirement Fund acquired a new position in Internap during the 2nd quarter worth $213,000. Finally, Northern Trust Corp lifted its position in Internap by 488.3% during the 2nd quarter. Northern Trust Corp now owns 913,121 shares of the information technology services provider’s stock worth $3,351,000 after acquiring an additional 757,898 shares during the last quarter. 84.10% of the stock is owned by institutional investors and hedge funds.
Internap Corp (NASDAQ:INAP) opened at $13.52 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 107.36. Internap Corp has a 52-week low of $11.24 and a 52-week high of $22.36.
A number of research firms have weighed in on INAP. BidaskClub raised shares of Internap from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 21st. Zacks Investment Research lowered shares of Internap from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. Finally, Benchmark reissued a “buy” rating and set a $28.00 target price on shares of Internap in a research report on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, one has given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.00.
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Internap Corporation is a technology provider of Internet infrastructure. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.
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