5.4% Stake of Internap Corp (INAP) Maintained by Portolan Capital Management, LLC
Portolan Capital Management, LLC
recently stated that they own 5.4% of Internap Corp (NASDAQ:INAP) in a Form 13G disclosure that was filed with the Securities and Exchange Commission on Friday, January 5th. The investor owns 1,115,017 shares of the stock valued at approximately $17,204,712. The reporting parties listed on the disclosure included Portolan Capital Management, LLC and George McCabe. The disclosure is available through EDGAR at this hyperlink.
provided the following explanation of their ownership:
A number of other hedge funds also recently bought and sold shares of the business. Gamco Investors INC. ET AL lifted its stake in Internap by 5.9% in the third quarter. Gamco Investors INC. ET AL now owns 7,406,564 shares of the information technology services provider’s stock valued at $32,219,000 after buying an additional 413,497 shares during the last quarter. Vanguard Group Inc. lifted its stake in Internap by 13.5% in the second quarter. Vanguard Group Inc. now owns 3,081,341 shares of the information technology services provider’s stock valued at $11,309,000 after buying an additional 365,676 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in Internap by 185.8% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,957,710 shares of the information technology services provider’s stock valued at $8,516,000 after buying an additional 1,272,692 shares during the last quarter. Emerald Advisers Inc. PA bought a new stake in Internap in the third quarter valued at $8,100,000. Finally, State Street Corp lifted its stake in Internap by 2,861.4% in the second quarter. State Street Corp now owns 1,224,423 shares of the information technology services provider’s stock valued at $4,493,000 after buying an additional 1,183,077 shares during the last quarter.
INAP has been the topic of a number of research analyst reports. Zacks Investment Research raised Internap from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, October 4th. ValuEngine raised Internap from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. BidaskClub raised Internap from a “sell” rating to a “hold” rating in a report on Saturday, December 16th. Finally, Benchmark reissued a “buy” rating and set a $24.00 price target (up from $20.00) on shares of Internap in a report on Monday, September 25th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Internap currently has an average rating of “Buy” and a consensus target price of $23.25.
Shares of Internap Corp (INAP) remained flat at $$15.43 on Friday. 28,984 shares of the company’s stock traded hands, compared to its average volume of 118,239. The company has a market capitalization of $321.03, a price-to-earnings ratio of -5.08 and a beta of 1.92. The company has a debt-to-equity ratio of 107.36, a current ratio of 0.69 and a quick ratio of 0.69. Internap Corp has a fifty-two week low of $6.28 and a fifty-two week high of $22.36.
Internap (NASDAQ:INAP) last issued its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.16). The business had revenue of $68.91 million for the quarter, compared to analyst estimates of $69.10 million. Internap had a negative net margin of 18.09% and a negative return on equity of 282.42%. Internap’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the business posted ($7.00) earnings per share. research analysts anticipate that Internap Corp will post -2.44 earnings per share for the current year.
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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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