Investment analysts at Drexel Hamilton initiated coverage on shares of Inteliquent Inc. (NASDAQ:IQNT) in a research note issued to investors on Tuesday, StockTargetPrices.com reports. The brokerage set a “buy” rating on the stock.
A number of other research firms also recently weighed in on IQNT. Morgan Stanley reiterated a “hold” rating and issued a $20.00 price target on shares of Inteliquent in a research report on Monday, August 1st. Zacks Investment Research downgraded shares of Inteliquent from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Raymond James Financial Inc. downgraded shares of Inteliquent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 20th. Finally, BWS Financial dropped their price target on shares of Inteliquent from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.00.
Inteliquent (NASDAQ:IQNT) opened at 16.03 on Tuesday. Inteliquent has a 1-year low of $14.56 and a 1-year high of $22.63. The firm has a market cap of $548.76 million, a P/E ratio of 15.56 and a beta of 1.05. The stock has a 50 day moving average price of $16.18 and a 200-day moving average price of $17.10.
Inteliquent (NASDAQ:IQNT) last released its quarterly 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. 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 analyst estimates of $90.28 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 71.6% on a year-over-year basis. Equities research analysts forecast that Inteliquent will post $1.21 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.64 annualized dividend and a yield of 3.99%. Inteliquent’s dividend payout ratio is currently 62.75%.
In other Inteliquent news, Director Rian J. Wren sold 14,949 shares of the business’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $20.08, for a total transaction of $300,175.92. Following the sale, the director now owns 94,930 shares of the company’s stock, valued at $1,906,194.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rian J. Wren sold 45,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 94,930 shares in the company, valued at approximately $1,940,369.20. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Edge Wealth Management LLC bought a new stake in Inteliquent during the second quarter worth $197,000. BNP Paribas Arbitrage SA boosted its stake in 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. Envestnet Asset Management Inc. bought a new stake in Inteliquent during the first quarter worth $109,000. AMP Capital Investors Ltd bought a new stake in Inteliquent during the first quarter worth $336,000. Finally, Renaissance Technologies LLC boosted its stake 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 last quarter. 88.98% of the stock is currently 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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