Published On: Fri, Sep 16th, 2016

Daniel Stanzione Acquires 50,000 Shares of Internap Network Services Corp. (INAP) Stock

Internap Network Services Corp. (NASDAQ:INAP) Director Daniel Stanzione purchased 50,000 shares of Internap Network Services Corp. stock in a transaction dated Wednesday, September 14th. The stock was acquired at an average price of $1.93 per share, with a total value of $96,500.00. Following the acquisition, the director now owns 193,536 shares in the company, valued at approximately $373,524.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Internap Network Services Corp. (NASDAQ:INAP) opened at 1.75 on Friday. The firm’s market cap is $91.11 million. Internap Network Services Corp. has a 52 week low of $1.73 and a 52 week high of $9.15. The firm’s 50-day moving average is $2.19 and its 200-day moving average is $2.37.
Internap Network Services Corp. (NASDAQ:INAP) last announced its earnings results on Thursday, August 4th. The company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The company had revenue of $74.30 million for the quarter, compared to analysts’ expectations of $76.61 million. Internap Network Services Corp. had a negative return on equity of 35.34% and a negative net margin of 14.90%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business earned ($0.20) EPS. On average, equities analysts anticipate that Internap Network Services Corp. will post ($0.49) earnings per share for the current year.

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Several equities research analysts have recently commented on INAP shares. Drexel Hamilton restated a “buy” rating on shares of Internap Network Services Corp. in a report on Monday, June 6th. Zacks Investment Research lowered shares of Internap Network Services Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Benchmark Co. reiterated a “buy” rating and set a $4.00 price objective on shares of Internap Network Services Corp. in a research note on Wednesday. Finally, Craig Hallum upgraded shares of Internap Network Services Corp. from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Monday, August 8th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $5.94.
A number of hedge funds and other institutional investors have recently made changes to their positions in INAP. LMR Partners LLP bought a new position in shares of Internap Network Services Corp. during the second quarter valued at $116,000. Alpine Partners VI LLC bought a new position in shares of Internap Network Services Corp. during the second quarter valued at $158,000. A.R.T. Advisors LLC raised its position in shares of Internap Network Services Corp. by 76.4% in the first quarter. A.R.T. Advisors LLC now owns 66,419 shares of the company’s stock valued at $181,000 after buying an additional 28,766 shares during the period. Springowl Associates LLC raised its position in shares of Internap Network Services Corp. by 56.8% in the second quarter. Springowl Associates LLC now owns 121,502 shares of the company’s stock valued at $250,000 after buying an additional 44,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Internap Network Services Corp. during the first quarter valued at $298,000. 70.69% of the stock is owned by institutional investors.
About Internap Network Services Corp.
Internap Corporation, formerly InterNAP Network Services Corporation, provides Internet infrastructure services. The Company operates through two segments: Data Center Services segment and Internet Protocol Services segment. It offers hybrid Internet infrastructure services, which enables customers to mix and match cloud, hosting and colocation for the combination of services.

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