Internap Corp (INAP) Stake Lessened by GSA Capital Partners LLP

GSA Capital Partners LLP cut its holdings in Internap Corp (NASDAQ:INAP) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,210 shares of the information technology services provider’s stock after selling 28,000 shares during the period. GSA Capital Partners LLP’s holdings in Internap were worth $291,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in INAP. Gamco Investors INC. ET AL grew its holdings in shares of Internap by 35.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,988,896 shares of the information technology services provider’s stock valued at $12,404,000 after acquiring an additional 779,084 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Internap by 25.7% in the fourth quarter. Gabelli Funds LLC now owns 2,915,413 shares of the information technology services provider’s stock valued at $12,099,000 after acquiring an additional 595,833 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Internap in the third quarter valued at approximately $3,268,000. BlackRock Inc. grew its holdings in shares of Internap by 16.0% in the fourth quarter. BlackRock Inc. now owns 1,461,314 shares of the information technology services provider’s stock valued at $6,064,000 after acquiring an additional 201,086 shares in the last quarter. Finally, Teton Advisors Inc. grew its holdings in shares of Internap by 31.1% in the fourth quarter. Teton Advisors Inc. now owns 561,097 shares of the information technology services provider’s stock valued at $2,329,000 after acquiring an additional 133,100 shares in the last quarter. 87.61% of the stock is owned by institutional investors.

INAP has been the subject of several recent analyst reports. Zacks Investment Research raised Internap from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Craig Hallum reduced their target price on Internap from $16.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, December 19th. They noted that the move was a valuation call. ValuEngine raised Internap from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Raymond James reduced their target price on Internap from $22.00 to $15.00 and set a “strong-buy” rating for the company in a report on Friday, March 15th. Finally, Jefferies Financial Group assumed coverage on Internap in a report on Monday, December 10th. They set a “buy” rating and a $7.50 price objective for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.10.

Shares of NASDAQ INAP opened at $4.80 on Wednesday. Internap Corp has a 1-year low of $3.86 and a 1-year high of $15.31. The firm has a market cap of $116.85 million, a price-to-earnings ratio of -1.59 and a beta of 2.91.

Internap (NASDAQ:INAP) last announced its quarterly earnings data on Thursday, March 14th. The information technology services provider reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.31). Internap had a negative net margin of 19.69% and a negative return on equity of 2,471.65%. The firm had revenue of $78.20 million for the quarter, compared to the consensus estimate of $82.52 million. During the same period last year, the company posted ($0.35) earnings per share. Internap’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts predict that Internap Corp will post -1.78 EPS for the current year.

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Internap 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.

Further Reading: Analyst Ratings

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Institutional Ownership by Quarter for Internap (NASDAQ:INAP)

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