Timpani Capital Management LLC acquired a new position in shares of Teligent, Inc. (NASDAQ:TLGT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 184,919 shares of the company’s stock, valued at approximately $1,692,000. Timpani Capital Management LLC owned about 0.35% of Teligent as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in Teligent by 0.4% during the second quarter. Rhumbline Advisers now owns 49,622 shares of the company’s stock worth $454,000 after purchasing an additional 200 shares during the last quarter. Teachers Advisors LLC raised its holdings in Teligent by 1.0% during the fourth quarter. Teachers Advisors LLC now owns 65,454 shares of the company’s stock worth $433,000 after purchasing an additional 648 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Teligent by 3.1% during the first quarter. Wells Fargo & Company MN now owns 45,617 shares of the company’s stock worth $357,000 after purchasing an additional 1,369 shares during the last quarter. American International Group Inc. raised its holdings in Teligent by 7.1% during the first quarter. American International Group Inc. now owns 25,488 shares of the company’s stock worth $199,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Teligent by 9.1% during the first quarter. Bank of America Corp DE now owns 39,458 shares of the company’s stock worth $307,000 after purchasing an additional 3,293 shares during the last quarter. 66.81% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on TLGT. Canaccord Genuity reaffirmed a “buy” rating and set a $11.00 price objective on shares of Teligent in a report on Tuesday, August 8th. Roth Capital set a $9.00 price objective on Teligent and gave the stock a “buy” rating in a report on Wednesday, August 9th. BidaskClub cut Teligent from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research cut Teligent from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Finally, ValuEngine cut Teligent from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Teligent presently has a consensus rating of “Hold” and an average price target of $9.00.
Teligent, Inc. (NASDAQ TLGT) traded down 0.29% during trading on Friday, hitting $6.83. The stock had a trading volume of 352,490 shares. The stock’s market cap is $364.66 million. Teligent, Inc. has a 1-year low of $5.75 and a 1-year high of $9.54. The firm’s 50-day moving average price is $6.98 and its 200-day moving average price is $7.92.
Teligent (NASDAQ:TLGT) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $18.40 million for the quarter, compared to analyst estimates of $20.11 million. Teligent had a negative net margin of 11.36% and a positive return on equity of 1.49%. Teligent’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.02 EPS. On average, equities research analysts predict that Teligent, Inc. will post $0.07 earnings per share for the current fiscal year.
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Teligent Company Profile
Teligent, Inc is a specialty generic pharmaceutical company. Under the Company’s own label, it markets and sells generic injectable pharmaceutical products in the United States and Canada. In the United States it marketed 16 generic topical pharmaceutical products and four branded generic pharmaceutical products, as of December 31, 2016.
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