Pembroke Management LTD Lowers Stake in Teligent, Inc. (TLGT)

Pembroke Management LTD decreased its position in shares of Teligent, Inc. (NASDAQ:TLGT) by 11.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,261,421 shares of the company’s stock after selling 278,300 shares during the period. Teligent comprises about 1.8% of Pembroke Management LTD’s holdings, making the stock its 20th largest position. Pembroke Management LTD owned 4.25% of Teligent worth $20,692,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in TLGT. Teza Capital Management LLC bought a new stake in Teligent during the first quarter worth about $116,000. Round Table Services LLC raised its stake in Teligent by 46.6% in the first quarter. Round Table Services LLC now owns 19,478 shares of the company’s stock worth $152,000 after buying an additional 6,191 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in Teligent during the first quarter worth about $170,000. Cutler Group LP raised its stake in Teligent by 217.6% in the first quarter. Cutler Group LP now owns 23,923 shares of the company’s stock worth $186,000 after buying an additional 16,391 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Teligent during the first quarter worth about $198,000. Institutional investors own 62.88% of the company’s stock.

Teligent, Inc. (TLGT) opened at 6.50 on Tuesday. The company’s market capitalization is $347.04 million. Teligent, Inc. has a 12 month low of $5.74 and a 12 month high of $9.54. The stock’s 50 day moving average price is $8.21 and its 200 day moving average price is $8.01.

Teligent (NASDAQ:TLGT) last issued its earnings results on Tuesday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.04. Teligent had a positive return on equity of 1.49% and a negative net margin of 11.36%. The firm had revenue of $18.40 million during the quarter, compared to the consensus estimate of $20.11 million. During the same period last year, the firm posted $0.02 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Teligent, Inc. will post $0.12 earnings per share for the current fiscal year.

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TLGT has been the topic of a number of research analyst reports. Deutsche Bank AG restated a “hold” rating and issued a $9.00 target price (up from $8.00) on shares of Teligent in a research note on Monday, July 17th. Canaccord Genuity initiated coverage on Teligent in a research note on Monday, July 31st. They issued a “buy” rating and a $11.00 target price on the stock. ValuEngine lowered Teligent from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. BidaskClub lowered Teligent from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research lowered Teligent from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $9.00.

About Teligent

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.