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: 000080724916000489. As reported in Mario Gabelli’s Gamco Investors, Inc Et Al’s form, the filler as of late owns 13.68% or 7,967,035 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 23, 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 0.75 in Q2 2016. Its down 0.04, from 0.79 in 2016Q1. The ratio fall, 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.
Vanguard Group has 1.94 million shares for 0% of their US portfolio. Deutsche Bancorp Ag has invested 0% of its portfolio in Internap Corp (NASDAQ:INAP). Eidelman Virant Capital holds 176,000 shares or 0.22% of its portfolio. Blackrock Invest Lc last reported 9,630 shares in the company. Commonwealth Equity Svcs accumulated 0% or 243,848 shares. Sei has 0% invested in the company for 25,454 shares. Airain, a Guernsey-based fund reported 10,873 shares. The Georgia-based Invesco has invested 0% in Internap Corp (NASDAQ:INAP). Globeflex Lp holds 416,100 shares or 0.23% of its portfolio. Jane Street Lc reported 25,440 shares or 0% of all its holdings. The Montana-based Da Davidson And has invested 0% in Internap Corp (NASDAQ:INAP). Moreover, Fny Managed Accounts Limited Liability Company has 0% invested in Internap Corp (NASDAQ:INAP) for 20,300 shares. Federated Invsts Incorporated Pa reported 110,673 shares or 0% of all its holdings. Goldman Sachs Group Inc Incorporated has 0% invested in the company for 52,967 shares. Credit Suisse Ag has 228,763 shares for 0% of their US portfolio.
Insider Transactions: Since September 14, 2016, the stock had 1 buying transaction, and 0 insider sales for $96,450 net activity. Another trade for 50,000 shares valued at $96,450 was bought by STANZIONE DANIEL.
Analysts await Internap Corp (NASDAQ:INAP) to report earnings on February, 16. They expect $-0.16 EPS, up 20.00% or $0.04 from last year’s $-0.2 per share. After $-0.17 actual EPS reported by Internap Corp for the previous quarter, Wall Street now forecasts -5.88% EPS growth.
The stock closed at $1.14 during the last session. It is down 59.72% since April 22, 2016 and is downtrending. It has underperformed by 65.13% the S&P500.
Internap Corporation, formerly InterNAP Network Services Corporation, provides Internet infrastructure services. The company has a market cap of $66.40 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 497.37% above today’s ($1.14) stock price. Internap Corp has been the topic of 13 analyst reports since August 22, 2015 according to StockzIntelligence Inc. On Friday, September 25 the stock rating was downgraded by Oppenheimer to “Perform”. The stock has “Buy” rating given by Benchmark on Friday, November 6. The stock of Internap Corp (NASDAQ:INAP) has “Neutral” rating given on Tuesday, November 24 by SunTrust. The firm has “Hold” rating given on Saturday, August 22 by TheStreet. As per Friday, February 19, the company rating was downgraded by Craig Hallum. The rating was maintained by Benchmark on Friday, May 6 with “Buy”. As per Friday, September 25, the company rating was downgraded by Wells Fargo. DA Davidson downgraded the shares of INAP in a report on Friday, September 25 to “Neutral” rating. The stock of Internap Corp (NASDAQ:INAP) earned “Neutral” rating by Suntrust Robinson on Tuesday, November 24.
More notable recent Internap Corp (NASDAQ:INAP) news were published by: Reuters.com which released: “BRIEF-Internap Corp says files for mixed shelf of upto $125 mln” on November 23, 2016, also Fool.com with their article: “Why Shares of Internap Corp. Slumped on Friday” published on September 25, 2015, Streetinsider.com published: “Internap Network Services Corp (INAP) Appoints New CEO” on September 13, 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 Streetinsider.com‘s news article titled: “Form 3 Internap Corp For: Nov 14 Filed by: DENNERLEIN ROBERT” with publication date: November 22, 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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