Buckhead Capital Management LLC boosted its stake in Inteliquent Inc. (NASDAQ:IQNT) by 8.3% during the third quarter, Holdings Channel reports. The institutional investor owned 73,905 shares of the company’s stock after buying an additional 5,685 shares during the period. Buckhead Capital Management LLC owned 0.21% of Inteliquent worth $1,193,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Inc. bought a new position in Inteliquent during the second quarter worth about $110,000. Mason Street Advisors LLC acquired a new stake in shares of Inteliquent during the second quarter worth about $134,000. Quantbot Technologies LP acquired a new stake in shares of Inteliquent during the third quarter worth about $155,000. SG Americas Securities LLC acquired a new stake in shares of Inteliquent during the third quarter worth about $157,000. Finally, AHL Partners LLP acquired a new stake in shares of Inteliquent during the second quarter worth about $204,000. Institutional investors and hedge funds own 88.10% of the company’s stock.
Inteliquent Inc. (NASDAQ:IQNT) traded down 0.13% during mid-day trading on Thursday, hitting $22.90. The stock had a trading volume of 241,957 shares. Inteliquent Inc. has a one year low of $14.56 and a one year high of $23.67. The company has a 50 day moving average price of $22.91 and a 200 day moving average price of $19.35. The stock has a market cap of $788.31 million, a P/E ratio of 21.60 and a beta of 1.24.
Inteliquent (NASDAQ:IQNT) last released its quarterly earnings data on Monday, November 7th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $99.40 million for the quarter, compared to analyst estimates of $92.61 million. Inteliquent had a return on equity of 19.22% and a net margin of 10.35%. The company’s quarterly revenue was up 56.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. On average, equities analysts anticipate that Inteliquent Inc. will post $1.12 EPS for the current year.
A number of brokerages have issued reports on IQNT. Raymond James Financial Inc. reaffirmed an “underperform” rating on shares of Inteliquent in a report on Tuesday, November 8th. Drexel Hamilton began coverage on Inteliquent in a report on Tuesday, October 4th. They set a “buy” rating and a $24.00 price target for the company. Finally, Zacks Investment Research downgraded Inteliquent from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Inteliquent has a consensus rating of “Hold” and a consensus target price of $22.67.
In related news, insider Matthew Carter, Jr. sold 10,200 shares of the stock in a transaction on Monday, December 12th. The stock was sold at an average price of $23.09, for a total value of $235,518.00. Following the completion of the sale, the insider now directly owns 41,453 shares in the company, valued at approximately $957,149.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate 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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