Segall Bryant & Hamill LLC Has $2.60 Million Position in 8×8 Inc $EGHT

Segall Bryant & Hamill LLC cut its stake in 8×8 Inc (NASDAQ:EGHT) by 8.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,328,215 shares of the company’s stock after selling 126,988 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in 8X8 were worth $2,603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in 8X8 by 3.1% in the first quarter. Vanguard Group Inc. now owns 13,009,471 shares of the company’s stock valued at $26,019,000 after purchasing an additional 393,478 shares in the last quarter. Nuveen LLC acquired a new position in shares of 8X8 in the 1st quarter valued at $639,000. Acadian Asset Management LLC increased its position in shares of 8X8 by 29.9% in the 2nd quarter. Acadian Asset Management LLC now owns 3,380,762 shares of the company’s stock valued at $6,623,000 after buying an additional 779,010 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of 8X8 in the 1st quarter valued at $863,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in 8X8 by 19.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 932,992 shares of the company’s stock worth $1,829,000 after buying an additional 151,308 shares during the period. Institutional investors own 93.99% of the company’s stock.

8X8 Stock Down 0.5%

NASDAQ:EGHT opened at $1.89 on Tuesday. The stock has a 50-day simple moving average of $1.98 and a 200 day simple moving average of $1.93. 8×8 Inc has a 52-week low of $1.52 and a 52-week high of $3.52. The company has a market cap of $262.03 million, a PE ratio of -11.81, a PEG ratio of 2.13 and a beta of 1.94. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.18 and a current ratio of 1.18.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen raised 8X8 from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 5th. Morgan Stanley set a $1.90 price objective on 8X8 in a report on Friday, August 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $2.50 price objective on shares of 8X8 in a research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 8X8 in a research note on Wednesday, November 19th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $2.49.

8X8 Company Profile

8×8, Inc engages in the provision of enterprise communication solutions. It offers solutions to the business services, education, financial services, government, healthcare, and manufacturing industries. The company was founded in February 1987 and is headquartered in Campbell, CA.