Internap Corp (INAP): Billionaire Mario Gabelli’s GAMCO Investors Ups Its Stake

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A new 13D filing with the US SEC showed that billionaire Mario Gabelli’s GAMCO Investors has slightly increased its stake in Internap Corp (NASDAQ:INAP), and now with its affiliates owns in aggregate 12.25 million shares, or 21.74% of the company’s total amount of shares. In March, GAMCO Investors held 11.49 million shares, equal to 20.55% of the outstanding stock, as disclosed in a previous 13D filing.

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Internap Corporation is a company that offers professional services in the domain of Internet infrastructures, operating through two sectors – Internet Protocol Services and  Data Center Services. Over the past 12 months, the company’s shares have dropped by 78.86%. For the first quarter of 2016, Internap Corp (NASDAQ:INAP) reported a loss per share of $0.12 beating the estimates of a loss of $0.23, but its revenue of $75.9 million missed the estimates of $77.2 million

 There was an increase in the number of hedge funds long Internap Corp (NASDAQ:INAP) and 12 investors from Insider Monkey’s database reported long positions in this stock as of the end of 2015, versus 10 funds a quarter earlier. Mario Gabelli’s GAMCO Investors disclosed the biggest position, worth around $45.5 million, followed by Michael Murphy and Daniel Donoghue’s Discovery Group with a $20.4 million stake. Other investors that were bullish on this stock are Jim Simons’ Renaissance Technologies, Constantinos J. Christofilis’s Archon Capital Management, Mark Coe’s Coe Capital Management, Israel Englander’s Millennium Management, Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital, and Ken Griffin’s Citadel Investment Group.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Gabelli Funds 4,123,136 4,123,136 4,123,136 7.31%
GAMCO Asset Management, Inc. I.D. No. 13-40445 6,924,051 7,378,332 7,378,332 13.09%
Teton Advisors, Inc. I.D. No. 13-4008049 555,590 555,590 555,590 0.99%
Gabelli Securities, Inc. I.D. No. 13-3379374 43,000 43,000 43,000 0.08%
GGCP, Inc. I.D. No. 13-3056041 0.00%
GAMCO Investors, Inc. I.D. No. 13-400786 450 450 450 0.00%
Associated Capital Group, Inc. I.D. No. 47-3965991 Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) 152,638 152,638 152,638 0.27%
Mario J. Gabelli 2,000 2,000 2,000 0.00%

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Page 1 of 17 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934 (Amendment No. 17)
Internap Corporation
(Name of Issuer)
Common Stock
(Title of Class of Securities)
(CUSIP Number)
David Goldman
GAMCO Investors, Inc.
One Corporate Center
Rye, New York 10580-1435
(914) 921-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
___________________May 3, 2016___________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  .

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