Internap Corp (NASDAQ:INAP) CEO Peter D. Aquino purchased 25,000 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were acquired at an average cost of $7.06 per share, for a total transaction of $176,500.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Internap stock opened at $6.94 on Friday. Internap Corp has a 52-week low of $6.08 and a 52-week high of $18.49. The company has a market capitalization of $180.88 million, a P/E ratio of -4.48 and a beta of 2.51. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 72.60.
Internap (NASDAQ:INAP) last announced its earnings results on Thursday, November 1st. The information technology services provider reported ($0.75) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.24). Internap had a negative net margin of 16.18% and a negative return on equity of 2,471.65%. The firm had revenue of $82.97 million during the quarter, compared to analyst estimates of $82.80 million. During the same period in the prior year, the business posted ($0.48) EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts forecast that Internap Corp will post -2.58 earnings per share for the current year.
INAP has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on Internap in a research report on Tuesday, July 17th. They set a “hold” rating and a $12.00 price target on the stock. ValuEngine raised Internap from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. BidaskClub raised Internap from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. SunTrust Banks initiated coverage on Internap in a research report on Tuesday, September 18th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Zacks Investment Research lowered Internap from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.60.
A number of institutional investors have recently made changes to their positions in the stock. Monarch Partners Asset Management LLC raised its position in Internap by 14.3% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 46,665 shares of the information technology services provider’s stock valued at $486,000 after buying an additional 5,850 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Internap by 11.3% in the 2nd quarter. Pinnacle Associates Ltd. now owns 78,887 shares of the information technology services provider’s stock valued at $822,000 after buying an additional 8,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Internap by 5.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 155,744 shares of the information technology services provider’s stock valued at $1,623,000 after buying an additional 8,171 shares during the last quarter. Bank of America Corp DE raised its position in Internap by 31.5% in the 2nd quarter. Bank of America Corp DE now owns 36,981 shares of the information technology services provider’s stock valued at $385,000 after buying an additional 8,857 shares during the last quarter. Finally, Northern Trust Corp raised its position in Internap by 4.3% in the 1st quarter. Northern Trust Corp now owns 231,410 shares of the information technology services provider’s stock valued at $2,545,000 after buying an additional 9,613 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.
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Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.
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