Vonage Holdings Corp. (NYSE:VG) is Adirondack Research & Management Inc.’s 2nd Largest Position

Adirondack Research & Management Inc. lowered its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 11.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,085,979 shares of the technology company’s stock after selling 146,800 shares during the quarter. Vonage comprises about 3.5% of Adirondack Research & Management Inc.’s investment portfolio, making the stock its 2nd biggest position. Adirondack Research & Management Inc. owned approximately 0.48% of Vonage worth $8,840,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. World Asset Management Inc bought a new position in Vonage in the 3rd quarter worth $112,000. Bayesian Capital Management LP bought a new position in Vonage in the 2nd quarter worth $118,000. CIBC Asset Management Inc bought a new position in Vonage in the 3rd quarter worth $148,000. Quantitative Systematic Strategies LLC raised its holdings in Vonage by 19.0% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 19,671 shares of the technology company’s stock worth $131,000 after acquiring an additional 3,136 shares during the period. Finally, Eqis Capital Management Inc. raised its holdings in Vonage by 4.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock worth $131,000 after acquiring an additional 813 shares during the period. Institutional investors and hedge funds own 84.01% of the company’s stock.

Vonage Holdings Corp. (VG) traded down $0.16 during trading hours on Monday, hitting $10.16. 2,191,003 shares of the stock traded hands, compared to its average volume of 2,549,239. Vonage Holdings Corp. has a one year low of $5.74 and a one year high of $10.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 0.64. The company has a market cap of $2,359.89, a P/E ratio of 46.91, a price-to-earnings-growth ratio of 7.32 and a beta of -0.04.

Vonage (NYSE:VG) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Vonage had a net margin of 2.14% and a return on equity of 11.47%. The company had revenue of $253.10 million for the quarter, compared to the consensus estimate of $249.02 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. research analysts forecast that Vonage Holdings Corp. will post 0.28 EPS for the current fiscal year.

In other news, insider Edward M. Gilvar sold 17,778 shares of Vonage stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $9.76, for a total transaction of $173,513.28. Following the sale, the insider now directly owns 29,199 shares in the company, valued at approximately $284,982.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey A. Citron sold 414,913 shares of Vonage stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $7.99, for a total transaction of $3,315,154.87. Following the sale, the director now owns 12,670,751 shares in the company, valued at $101,239,300.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,539,123 shares of company stock worth $12,962,492. 14.05% of the stock is owned by company insiders.

Several research analysts recently commented on VG shares. BidaskClub upgraded shares of Vonage from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. FBN Securities downgraded shares of Vonage from an “outperform” rating to a “sector perform” rating and set a $8.70 target price on the stock. in a report on Thursday, August 10th. Robert W. Baird reiterated a “buy” rating and issued a $9.00 target price on shares of Vonage in a report on Friday, September 1st. Northland Securities restated a “buy” rating and set a $9.50 price objective on shares of Vonage in a report on Tuesday, September 5th. Finally, Citigroup restated a “buy” rating and set a $9.75 price objective on shares of Vonage in a report on Wednesday, September 13th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $9.72.

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Vonage Profile

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.

Institutional Ownership by Quarter for Vonage (NYSE:VG)

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