Emerald Advisers LLC Reduces Stock Holdings in Internap Corp (NASDAQ:INAP)

Emerald Advisers LLC trimmed its position in Internap Corp (NASDAQ:INAP) by 69.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,921 shares of the information technology services provider’s stock after selling 32,138 shares during the period. Emerald Advisers LLC owned about 0.05% of Internap worth $42,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in Internap by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 79,001 shares of the information technology services provider’s stock worth $328,000 after purchasing an additional 2,051 shares during the last quarter. Rhumbline Advisers boosted its position in Internap by 11.8% in the first quarter. Rhumbline Advisers now owns 30,245 shares of the information technology services provider’s stock worth $150,000 after purchasing an additional 3,190 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Internap by 781.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,123 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 4,542 shares during the last quarter. Bank of America Corp DE boosted its position in Internap by 16.0% in the fourth quarter. Bank of America Corp DE now owns 42,744 shares of the information technology services provider’s stock worth $177,000 after purchasing an additional 5,902 shares during the last quarter. Finally, Teton Advisors Inc. boosted its position in Internap by 1.4% in the first quarter. Teton Advisors Inc. now owns 569,000 shares of the information technology services provider’s stock worth $2,822,000 after purchasing an additional 7,903 shares during the last quarter. 67.31% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on INAP. SunTrust Banks reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Internap in a research note on Friday, May 10th. Zacks Investment Research downgraded Internap from a “buy” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised Internap from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Benchmark set a $8.00 price objective on Internap and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $8.36.



NASDAQ INAP opened at $2.02 on Thursday. The stock has a 50-day moving average of $2.93. The company has a debt-to-equity ratio of 11,888.77, a current ratio of 0.77 and a quick ratio of 0.77. Internap Corp has a 52 week low of $1.91 and a 52 week high of $14.47. The company has a market capitalization of $54.04 million, a P/E ratio of -0.67 and a beta of 2.91.

Internap (NASDAQ:INAP) last issued its earnings results on Tuesday, August 6th. The information technology services provider reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.22). The company had revenue of $73.13 million during the quarter, compared to the consensus estimate of $76.75 million. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.47) earnings per share. On average, analysts forecast that Internap Corp will post -2.65 EPS for the current fiscal year.

Internap Profile

Internap Corp. engages in the provision of information technology infrastructure services. It operates through the following segments: INAP US and INAP INTL. The INAP US segment consists of U. S. Colocation, U. S. Cloud, and U. S. Network services based in the United States. The INAP INTL segment consists of these same services based in countries other than the United States, and Ubersmith.

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Institutional Ownership by Quarter for Internap (NASDAQ:INAP)

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