Engineers Gate Manager LP purchased a new stake in shares of Vonage Holdings Corp. (NYSE:VG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 227,884 shares of the technology company’s stock, valued at approximately $2,318,000.
Several other institutional investors and hedge funds have also modified their holdings of VG. Parametrica Management Ltd lifted its position in Vonage by 82.7% in the 4th quarter. Parametrica Management Ltd now owns 55,244 shares of the technology company’s stock worth $562,000 after buying an additional 25,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Vonage by 87.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after buying an additional 4,569 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in Vonage in the 4th quarter worth approximately $671,000. Bessemer Group Inc. lifted its position in Vonage by 115.7% in the 4th quarter. Bessemer Group Inc. now owns 117,100 shares of the technology company’s stock worth $1,191,000 after buying an additional 62,800 shares during the last quarter. Finally, Perkins Capital Management Inc. lifted its position in Vonage by 24.0% in the 4th quarter. Perkins Capital Management Inc. now owns 86,125 shares of the technology company’s stock worth $876,000 after buying an additional 16,675 shares during the last quarter. Hedge funds and other institutional investors own 83.85% of the company’s stock.
Shares of Vonage Holdings Corp. (NYSE VG) opened at $10.45 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63. Vonage Holdings Corp. has a 12-month low of $5.74 and a 12-month high of $11.32. The firm has a market capitalization of $2,380.00, a P/E ratio of 116.11, a price-to-earnings-growth ratio of 6.35 and a beta of -0.04.
Vonage (NYSE:VG) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.07 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The firm had revenue of $253.10 million during the quarter, compared to the consensus estimate of $249.02 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. equities research analysts forecast that Vonage Holdings Corp. will post 0.28 EPS for the current fiscal year.
In other Vonage news, Director Jeffrey A. Citron sold 138,303 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $8.90, for a total value of $1,230,896.70. Following the completion of the sale, the director now owns 11,676,047 shares in the company, valued at $103,916,818.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Edward M. Gilvar sold 17,778 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $9.76, for a total value of $173,513.28. Following the completion of the sale, the insider now owns 29,199 shares of the company’s stock, valued at approximately $284,982.24. The disclosure for this sale can be found here. Insiders sold 1,877,429 shares of company stock valued at $18,516,671 in the last quarter. Corporate insiders own 14.05% of the company’s stock.
A number of analysts recently weighed in on the company. Zacks Investment Research restated a “hold” rating and issued a $11.00 target price on shares of Vonage in a research report on Saturday, January 13th. Robert W. Baird restated a “buy” rating and issued a $11.00 target price on shares of Vonage in a research report on Wednesday, January 3rd. Needham & Company LLC boosted their target price on Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Oppenheimer boosted their target price on Vonage from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, Citigroup restated a “buy” rating and issued a $11.00 target price on shares of Vonage in a research report on Wednesday, November 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.30.
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and communication solutions across multiple devices. The Company operates through two segments: Business and Consumer. For business services customers, the Company provides cloud-based unified communications as a service (UCaaS) solutions, consisting of integrated voice, text, video, data, collaboration, and mobile applications over its scalable session initiation protocol (SIP) based voice over Internet protocol (VoIP) network.
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