Debora J. Wilson Buys 7,000 Shares of Internap Corp (INAP) Stock

Internap Corp (NASDAQ:INAP) Director Debora J. Wilson bought 7,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were bought at an average cost of $7.19 per share, for a total transaction of $50,330.00. Following the purchase, the director now owns 96,302 shares of the company’s stock, valued at approximately $692,411.38. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of NASDAQ:INAP opened at $6.94 on Friday. The firm has a market cap of $180.88 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 52 week low of $6.08 and a 52 week high of $18.49.

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

A number of analysts have weighed in on INAP shares. SunTrust Banks started coverage on shares of Internap in a research note on Tuesday, September 18th. They set a “buy” rating and a $22.00 target price on the stock. ValuEngine upgraded shares of Internap from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Stifel Nicolaus set a $13.00 price target on shares of Internap and gave the stock a “hold” rating in a report on Friday, August 3rd. Craig Hallum cut their price target on shares of Internap from $22.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Finally, BidaskClub upgraded shares of Internap from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $17.60.

Several large investors have recently modified their holdings of the company. Gabelli Funds LLC lifted its holdings in shares of Internap by 13.3% during the second quarter. Gabelli Funds LLC now owns 2,392,797 shares of the information technology services provider’s stock worth $24,933,000 after purchasing an additional 280,924 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Internap by 3.2% in the second quarter. Gamco Investors INC. ET AL now owns 2,284,165 shares of the information technology services provider’s stock valued at $23,801,000 after buying an additional 70,945 shares during the period. BlackRock Inc. lifted its holdings in Internap by 6.6% in the second quarter. BlackRock Inc. now owns 1,375,879 shares of the information technology services provider’s stock valued at $14,336,000 after buying an additional 84,729 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Internap by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 654,686 shares of the information technology services provider’s stock valued at $6,822,000 after buying an additional 78,781 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in Internap by 7.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 530,254 shares of the information technology services provider’s stock valued at $6,697,000 after buying an additional 35,326 shares during the period. Institutional investors own 83.88% of the company’s stock.

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Internap Company Profile

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

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