Internap Corp (INAP) CEO Peter D. Aquino Acquires 16,500 Shares of Stock

Share on StockTwits

Internap Corp (NASDAQ:INAP) CEO Peter D. Aquino bought 16,500 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was purchased at an average price of $7.02 per share, with a total value of $115,830.00. Following the completion of the transaction, the chief executive officer now directly owns 637,796 shares in the company, valued at approximately $4,477,327.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Internap stock traded up $0.18 during midday trading on Friday, hitting $6.96. 11,972 shares of the company traded hands, compared to its average volume of 814,438. The firm has a market capitalization of $178.59 million, a PE 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 Corp has a 12 month low of $6.08 and a 12 month high of $18.49.

Internap (NASDAQ:INAP) last announced its quarterly earnings results on Thursday, November 1st. The information technology services provider reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.24). The company had revenue of $82.97 million for the quarter, compared to the consensus estimate of $82.80 million. Internap had a negative net margin of 16.18% and a negative return on equity of 2,471.65%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.48) earnings per share. As a group, research analysts anticipate that Internap Corp will post -2.58 earnings per share for the current year.

INAP has been the subject of several analyst reports. Stifel Nicolaus initiated coverage on shares of Internap in a research report on Tuesday, July 17th. They issued a “hold” rating and a $12.00 target price for the company. ValuEngine upgraded shares of Internap from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. BidaskClub upgraded shares of Internap from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. SunTrust Banks initiated coverage on shares of Internap in a research report on Tuesday, September 18th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Zacks Investment Research cut shares of Internap from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.60.

Several institutional investors have recently made changes to their positions in INAP. Proxima Capital Management LLC bought a new stake in shares of Internap during the 2nd quarter valued at approximately $3,455,000. Gabelli Funds LLC grew its holdings in shares of Internap by 13.3% during the 2nd quarter. Gabelli Funds LLC now owns 2,392,797 shares of the information technology services provider’s stock valued at $24,933,000 after purchasing an additional 280,924 shares during the last quarter. Western Standard LLC bought a new stake in shares of Internap during the 2nd quarter valued at approximately $2,482,000. Millennium Management LLC bought a new stake in shares of Internap during the 1st quarter valued at approximately $1,570,000. Finally, Teton Advisors Inc. grew its holdings in shares of Internap by 23.9% during the 2nd quarter. Teton Advisors Inc. now owns 440,000 shares of the information technology services provider’s stock valued at $4,585,000 after purchasing an additional 85,000 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was first published by Macon Daily and is the sole property of of Macon Daily. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://macondaily.com/2018/11/09/internap-corp-inap-ceo-peter-d-aquino-acquires-16500-shares-of-stock.html.

About Internap

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.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

Insider Buying and Selling by Quarter for Internap (NASDAQ:INAP)

Receive News & Ratings for Internap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Internap and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply