Fuller & Thaler Asset Management Inc. raised its position in shares of Internap Corp (NASDAQ:INAP) by 40.3% in the second quarter, HoldingsChannel reports. The firm owned 270,100 shares of the information technology services provider’s stock after acquiring an additional 77,625 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Internap were worth $2,814,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new position in Internap during the fourth quarter valued at approximately $159,000. Monarch Partners Asset Management LLC lifted its stake in Internap by 55.8% in the first quarter. Monarch Partners Asset Management LLC now owns 40,815 shares of the information technology services provider’s stock valued at $449,000 after buying an additional 14,620 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Internap by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 147,573 shares of the information technology services provider’s stock valued at $1,624,000 after buying an additional 7,866 shares in the last quarter. Northern Trust Corp lifted its stake in Internap by 4.3% in the first 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 in the last quarter. Finally, Gabelli Funds LLC lifted its stake in Internap by 1.1% in the first quarter. Gabelli Funds LLC now owns 2,111,873 shares of the information technology services provider’s stock valued at $23,231,000 after buying an additional 23,255 shares in the last quarter. 83.58% of the stock is owned by institutional investors and hedge funds.
Shares of INAP opened at $13.07 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of -126.72. Internap Corp has a twelve month low of $8.88 and a twelve month high of $22.36.
Internap (NASDAQ:INAP) last announced its quarterly earnings results on Thursday, August 2nd. The information technology services provider reported ($0.47) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.22. Internap had a negative net margin of 15.52% and a negative return on equity of 2,471.65%. The firm had revenue of $81.96 million for the quarter, compared to analyst estimates of $81.76 million. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. The business’s revenue was up 17.7% on a year-over-year basis. research analysts predict that Internap Corp will post -2.26 earnings per share for the current fiscal year.
INAP has been the topic of a number of research reports. BidaskClub raised shares of Internap from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Stifel Nicolaus set a $13.00 price target on shares of Internap and gave the company a “hold” rating in a research note on Friday, August 3rd. Zacks Investment Research raised shares of Internap from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Finally, ValuEngine raised shares of Internap from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $19.00.
In other Internap news, CEO Peter D. Aquino acquired 4,470 shares of the business’s stock in a transaction dated Wednesday, June 13th. The shares were acquired at an average price of $11.16 per share, with a total value of $49,885.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders acquired 7,270 shares of company stock worth $76,988. Insiders own 5.90% of the company’s stock.
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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