Bank of New York Mellon Corp Sells 276 Shares of Internap Corporation (INAP)
Bank of New York Mellon Corp reduced its position in shares of Internap Corporation (NASDAQ:INAP) by 0.5% during the first quarter, Holdings Channel reports. The firm owned 51,492 shares of the information technology services provider’s stock after selling 276 shares during the period. Bank of New York Mellon Corp’s holdings in Internap Corporation were worth $192,000 as of its most recent filing with the SEC.
Separately, Renaissance Technologies LLC raised its position in Internap Corporation by 46.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,563,420 shares of the information technology services provider’s stock worth $2,408,000 after buying an additional 493,920 shares during the period. Institutional investors own 77.37% of the company’s stock.
Internap Corporation (NASDAQ:INAP) opened at 4.75 on Thursday. The stock’s market capitalization is $377.66 million. Internap Corporation has a 1-year low of $0.80 and a 1-year high of $4.79. The firm’s 50-day moving average is $3.89 and its 200 day moving average is $3.17.
Internap Corporation (NASDAQ:INAP) last issued its earnings results on Thursday, August 3rd. The information technology services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The company had revenue of $69.64 million during the quarter, compared to analysts’ expectations of $70.59 million. Internap Corporation had a negative net margin of 45.52% and a negative return on equity of 234.35%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.21) earnings per share. Equities analysts anticipate that Internap Corporation will post ($0.31) EPS for the current fiscal year.
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A number of research analysts recently weighed in on INAP shares. Zacks Investment Research raised shares of Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a report on Tuesday, May 16th. BidaskClub raised shares of Internap Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. UBS AG raised shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating in a report on Friday, August 4th. Finally, Raymond James Financial, Inc. raised shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 target price for the company in a report on Friday, August 4th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $5.31.
In related news, Director Peter J. Rogers, Jr. bought 15,280 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was bought at an average cost of $3.29 per share, for a total transaction of $50,271.20. Following the acquisition, the director now directly owns 67,306 shares in the company, valued at $221,436.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Park West Asset Management Llc sold 125,000 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $4.19, for a total value of $523,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,482,700 shares of company stock valued at $13,640,242. 5.83% of the stock is owned by company insiders.
About Internap Corporation
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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