Citadel Advisors LLC Invests $1.30 Million in Teligent, Inc. (TLGT) Stock

Citadel Advisors LLC acquired a new stake in Teligent, Inc. (NASDAQ:TLGT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 193,359 shares of the company’s stock, valued at approximately $1,297,000. Citadel Advisors LLC owned about 0.36% of Teligent at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TLGT. Janus Henderson Group PLC acquired a new stake in Teligent in the 2nd quarter valued at about $51,431,000. Stifel Financial Corp acquired a new stake in Teligent in the 2nd quarter valued at about $6,876,000. FMR LLC acquired a new stake in Teligent in the 2nd quarter valued at about $6,543,000. Russell Investments Group Ltd. raised its holdings in Teligent by 124.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,043,046 shares of the company’s stock valued at $9,544,000 after acquiring an additional 577,635 shares during the last quarter. Finally, RK Capital Management LLC acquired a new stake in Teligent in the 2nd quarter valued at about $4,581,000. Institutional investors own 70.83% of the company’s stock.

A number of analysts have commented on TLGT shares. Roth Capital set a $9.00 price objective on shares of Teligent and gave the company a “buy” rating in a report on Wednesday, August 9th. TheStreet downgraded shares of Teligent from a “c-” rating to a “d+” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Teligent from a “strong sell” rating to a “hold” rating in a report on Friday, October 13th. Deutsche Bank cut their price objective on shares of Teligent from $9.00 to $8.00 and set a “hold” rating for the company in a report on Monday, August 14th. Finally, Canaccord Genuity downgraded shares of Teligent from a “buy” rating to a “hold” rating and cut their price target for the stock from $9.00 to $5.00 in a report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Teligent presently has an average rating of “Hold” and an average price target of $7.33.

Shares of Teligent, Inc. (TLGT) opened at $3.71 on Thursday. The company has a current ratio of 3.28, a quick ratio of 2.71 and a debt-to-equity ratio of 2.23. Teligent, Inc. has a 1-year low of $2.82 and a 1-year high of $9.54.

Teligent (NASDAQ:TLGT) last announced its quarterly earnings results on Monday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.07). The firm had revenue of $13.65 million for the quarter, compared to analyst estimates of $19.12 million. Teligent had a negative return on equity of 6.51% and a negative net margin of 16.95%. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. analysts expect that Teligent, Inc. will post -0.2 earnings per share for the current fiscal year.

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Teligent 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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Institutional Ownership by Quarter for Teligent (NASDAQ:TLGT)

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