Russell Investments Group Ltd. Boosts Stake in Teligent, Inc. (TLGT)
Russell Investments Group Ltd. raised its position in Teligent, Inc. (NASDAQ:TLGT) by 124.1% during the second quarter, Holdings Channel reports. The fund owned 1,043,046 shares of the company’s stock after buying an additional 577,635 shares during the period. Russell Investments Group Ltd.’s holdings in Teligent were worth $9,544,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in TLGT. Vanguard Group Inc. raised its stake in shares of Teligent by 10.4% in the first quarter. Vanguard Group Inc. now owns 1,976,891 shares of the company’s stock worth $15,440,000 after buying an additional 185,624 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Teligent during the first quarter worth approximately $612,000. Columbus Circle Investors raised its stake in shares of Teligent by 62.6% in the first quarter. Columbus Circle Investors now owns 196,430 shares of the company’s stock worth $1,534,000 after buying an additional 75,595 shares during the last quarter. State Street Corp raised its stake in shares of Teligent by 11.7% in the fourth quarter. State Street Corp now owns 647,583 shares of the company’s stock worth $4,280,000 after buying an additional 67,935 shares during the last quarter. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Teligent during the first quarter worth approximately $309,000. Hedge funds and other institutional investors own 62.88% of the company’s stock.
Shares of Teligent, Inc. (NASDAQ:TLGT) traded up 0.96% during midday trading on Wednesday, reaching $6.33. The company’s stock had a trading volume of 124,939 shares. The stock has a 50-day moving average of $8.12 and a 200 day moving average of $8.01. Teligent, Inc. has a 12 month low of $5.74 and a 12 month high of $9.54. The company’s market cap is $337.97 million.
Teligent (NASDAQ:TLGT) last posted its earnings results on Tuesday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.04. Teligent had a negative net margin of 11.36% and a positive return on equity of 1.49%. The business had revenue of $18.40 million during the quarter, compared to analyst estimates of $20.11 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. On average, analysts predict that Teligent, Inc. will post $0.09 earnings per share for the current fiscal year.
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TLGT has been the subject of a number of research reports. Zacks Investment Research lowered Teligent from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Deutsche Bank AG restated a “hold” rating and set a $9.00 price objective (up from $8.00) on shares of Teligent in a research report on Monday, July 17th. BidaskClub lowered Teligent from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Canaccord Genuity initiated coverage on Teligent in a research report on Monday, July 31st. They set a “buy” rating and a $11.00 price objective for the company. Finally, ValuEngine lowered Teligent from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Three 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 stock. Teligent has a consensus rating of “Hold” and an average target price of $9.00.
Teligent, Inc is a specialty generic pharmaceutical company. Under the Company’s own label, it markets and sells generic injectable pharmaceutical products in the United States and Canada. In the United States it marketed 16 generic topical pharmaceutical products and four branded generic pharmaceutical products, as of December 31, 2016.
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