289,966 Shares in Internap Corp (NASDAQ:INAP) Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. bought a new stake in shares of Internap Corp (NASDAQ:INAP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 289,966 shares of the information technology services provider’s stock, valued at approximately $1,261,000. Ameriprise Financial Inc. owned approximately 0.35% of Internap at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gotham Asset Management LLC raised its holdings in Internap by 173.1% during the second quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock valued at $103,000 after buying an additional 17,717 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Internap in the second quarter worth about $133,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Internap in the second quarter worth about $158,000. Symphony Asset Management LLC bought a new position in shares of Internap in the second quarter worth about $159,000. Finally, Nationwide Fund Advisors bought a new position in shares of Internap in the second quarter worth about $166,000.

Internap Corp (NASDAQ INAP) traded down $1.38 during mid-day trading on Friday, reaching $14.90. The company had a trading volume of 326,831 shares, compared to its average volume of 163,340. Internap Corp has a fifty-two week low of $6.44 and a fifty-two week high of $22.36. The firm has a market capitalization of $348.75 and a P/E ratio of -4.90. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 107.36.

Internap (NASDAQ:INAP) last released its earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.16). Internap had a negative return on equity of 282.42% and a negative net margin of 18.09%. The firm had revenue of $68.91 million for the quarter, compared to analyst estimates of $69.10 million. During the same period last year, the business earned ($7.00) earnings per share. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. research analysts predict that Internap Corp will post -2.44 EPS for the current fiscal year.

INAP has been the topic of a number of recent analyst reports. BidaskClub lowered Internap from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. ValuEngine upgraded Internap from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Benchmark reiterated a “buy” rating and issued a $28.00 price objective on shares of Internap in a research note on Tuesday. Finally, Zacks Investment Research upgraded Internap from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Internap has an average rating of “Buy” and a consensus target price of $24.25.

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About Internap

Internap Corporation is a technology provider of Internet infrastructure. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.

Institutional Ownership by Quarter for Internap (NASDAQ:INAP)

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