The New Mario Gabelli’s Gamco Investors, Inc Et Al Holding in Internap Corp
Gamco Investors, Inc Et Al filed with the SEC SC 13D/A form for Internap Corp. The form can be accessed here: 000080724916000474. As reported in Mario Gabelli’s Gamco Investors, Inc Et Al’s form, the filler as of late owns 12.99% or 7,563,511 shares of the Information Technology–company.
Internap Corp stake is a new one for the for the hedge fund and it was filed because of activity on November 8, 2016. We feel this shows Mario Gabelli’s Gamco Investors, Inc Et Al’s positive view for the stock.
The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Mario Gabelli’s Gamco Investors, Inc Et Al’s US equities portfolio is in this sector.
Internap Corp Institutional Sentiment
Latest Security and Exchange filings show 108 investors own Internap Corp. The institutional ownership in Q3 2015 is high, at 81.02% of the outstanding shares. This is increased by 507776 the total institutional shares. 47196713 were the shares owned by these institutional investors. In total 15 funds opened new Internap Corp stakes, 38 increased stakes. There were 6 that closed positions and 33 reduced them.
2 managers had the stock in their top Ten. Notable investors are: .
Westerly Capital Management Llc is an institutional investor bullish on Internap Corp, owning 610000 shares as of Q3 2015 for 4.48% of its portfolio. Pinnacle Associates Ltd owns 25000 shares or less than 0.01% of its portfolio. TX Hodges Capital Management Inc have 0.02% of their stock portfolio for 60000 shares. Further, Norman Fields Gottscho Capital Management Llc reported stake worth 0.82% of its US stock portfolio. The CA First Republic Investment Management Inc owns 37536 shares. Internap Corp is less than 0.01% of the manager’s US portfolio.
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. It also offers availability across a global network of data centers, and services backed by service level agreements (SLAs). The Company serves approximately 11,000 customers in various industries, including software and Internet; media and entertainment; business services; healthcare technology infrastructure, and telecommunications. Its Data Center Services segment includes colocation, hosting and cloud services. IP Services segment includes its performance IP service, content delivery network (CDN) services, IP routing hardware and software platform, and Managed Internet Route Optimizer Controller.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment decreased to 0.79 in 2016 Q2. Its down 0.59, from 1.38 in 2016Q1. The ratio dropped, as 23 funds sold all Internap Corp shares owned while 34 reduced positions. 20 funds bought stakes while 25 increased positions. They now own 39.98 million shares or 9.38% less from 44.12 million shares in 2016Q1.
Moreover, Laurion Capital Mngmt Lp has 0.01% invested in Internap Corp (NASDAQ:INAP) for 158,100 shares. Credit Suisse Ag last reported 228,763 shares in the company. Grt Capital Prtn Ltd Liability has 0.03% invested in the company for 56,800 shares. New York State Common Retirement Fund accumulated 15,100 shares or 0% of the stock. Jane Street Grp Limited Liability Com holds 25,440 shares or 0% of its portfolio. Diam Ltd last reported 62,814 shares in the company. Pnc Financial Services Inc, a Pennsylvania-based fund reported 399 shares. Da Davidson & has 0% invested in the company for 10,000 shares. The Pennsylvania-based Susquehanna Group Llp has invested 0% in Internap Corp (NASDAQ:INAP). Pinnacle Assocs Ltd holds 294,950 shares or 0.01% of its portfolio. Gabelli Funds Limited Liability accumulated 4.44 million shares or 0.05% of the stock. Deutsche Natl Bank Ag owns 116,780 shares or 0% of their US portfolio. Focused Wealth Management accumulated 100 shares or 0% of the stock. Fny Managed Accounts Limited Co owns 20,300 shares or 0% of their US portfolio. Fincl Bank Of Montreal Can holds 808 shares or 0% of its portfolio.
Insider Transactions: Since September 14, 2016, the stock had 1 insider buy, and 0 selling transactions for $96,450 net activity. On Wednesday, September 14 the insider STANZIONE DANIEL bought $96,450.
About 102,006 shares traded hands. Internap Corp (NASDAQ:INAP) has declined 55.87% since April 8, 2016 and is downtrending. It has underperformed by 61.52% the S&P500.
Internap Corporation, formerly InterNAP Network Services Corporation, provides Internet infrastructure services. The company has a market cap of $67.68 million. The Firm operates through two divisions: Data Center Services segment and Internet Protocol Services segment. It currently has negative earnings. It offers hybrid Internet infrastructure services, which enables clients to mix and match cloud, hosting and colocation for the combination of services.
Internap Corp (NASDAQ:INAP) Ratings Coverage
Out of 8 analysts covering Internap Corp (NASDAQ:INAP), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. $10 is the highest target while $3 is the lowest. The $6.81 average target is 502.65% above today’s ($1.13) stock price. Internap Corp has been the topic of 13 analyst reports since August 22, 2015 according to StockzIntelligence Inc. As per Friday, September 25, the company rating was downgraded by Oppenheimer. The firm has “Buy” rating by Benchmark given on Friday, May 6. Craig Hallum downgraded Internap Corp (NASDAQ:INAP) on Friday, February 19 to “Hold” rating. The stock has “Neutral” rating given by DA Davidson on Friday, September 25. The rating was downgraded by Wells Fargo to “Market Perform” on Friday, September 25. Benchmark maintained the stock with “Buy” rating in Friday, November 6 report. The stock has “Neutral” rating given by SunTrust on Tuesday, November 24. As per Saturday, August 22, the company rating was downgraded by TheStreet. Suntrust Robinson initiated the shares of INAP in a report on Tuesday, November 24 with “Neutral” rating.
More notable recent Internap Corp (NASDAQ:INAP) news were published by: Fool.com which released: “Why Shares of Internap Corp. Slumped on Friday” on September 25, 2015, also Prnewswire.com with their article: “Internap Announces Leadership Transition to Support Next Stage of Business …” published on September 13, 2016, Prnewswire.com published: “New Policy Engine Lends Greater Flexibility and Control to Internap’s MIRO …” on July 25, 2016. More interesting news about Internap Corp (NASDAQ:INAP) were released by: Prnewswire.com and their article: “Internap to Release Third Quarter Financial Results on November 3, 2016” published on October 14, 2016 as well as Prnewswire.com‘s news article titled: “Internap CloudOption Service Delivers High-Speed Interconnectivity to Third …” with publication date: September 28, 2016.
According to Zacks Investment Research, “InterNAP Network Services Corp is a provider of high performance Internet connectivity services targeted at businesses seeking to maximize the performance of mission-critical Internet-based applications. Customers connected to one of their service points have their data optimally routed to and from destinations on the Internet using their overlay network, which analyzes the traffic situation on the multiplicity of networks that comprise the Internet and delivers mission-critical information and communications faster and more reliably.”
INAP Company Profile
Internap Corporation, formerly InterNAP Network Services Corporation, incorporated on July 25, 2001, provides Internet infrastructure services. The Firm operates through two divisions: Data Center Services segment and Internet Protocol (IP) Services segment. It offers hybrid Internet infrastructure services, which enables clients to mix and match cloud, hosting and colocation for the combination of services. It also offers availability across a global network of data centers; network services that leverage its technologies to manage uptime and latency for customer applications, and services backed by service-level agreements (SLAs). The Firm serves approximately 11,000 clients in various industries, including software and Internet, including advertising technology; media and entertainment, including gaming; business services; hosting and information technology (IT) infrastructure; healthcare technology infrastructure, and telecommunications.
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