Thompson Siegel & Walmsley LLC reduced its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 20.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,009,107 shares of the technology company’s stock after selling 771,285 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 1.32% of Vonage worth $24,494,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of VG. World Asset Management Inc bought a new stake in Vonage in the 3rd quarter valued at $112,000. Bayesian Capital Management LP bought a new stake in Vonage in the 2nd quarter valued at $118,000. CIBC Asset Management Inc bought a new stake in Vonage in the 3rd quarter valued at $148,000. Quantitative Systematic Strategies LLC boosted its stake in Vonage by 19.0% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 19,671 shares of the technology company’s stock valued at $131,000 after purchasing an additional 3,136 shares during the period. Finally, Eqis Capital Management Inc. boosted its stake in Vonage by 4.2% in the 2nd quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock valued at $131,000 after purchasing an additional 813 shares during the period. Institutional investors own 84.01% of the company’s stock.
Several analysts recently issued reports on VG shares. Robert W. Baird restated a “buy” rating and issued a $9.00 price target on shares of Vonage in a research note on Friday, September 1st. Craig Hallum reiterated a “buy” rating and set a $11.00 target price (up from $10.00) on shares of Vonage in a research report on Tuesday, November 7th. Citigroup reiterated a “buy” rating and set 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. Northland Securities reissued a “buy” rating and set a $9.50 price target on shares of Vonage in a report on Thursday, October 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.50 price target on shares of Vonage in a report on Wednesday, September 27th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Vonage currently has a consensus rating of “Buy” and a consensus price target of $9.72.
In other news, Director Jeffrey A. Citron sold 138,303 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $8.15, for a total value of $1,127,169.45. Following the completion of the transaction, the director now directly owns 12,676,047 shares of the company’s stock, valued at $103,309,783.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey A. Citron sold 414,913 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $7.99, for a total value of $3,315,154.87. Following the completion of the transaction, the director now directly owns 12,670,751 shares of the company’s stock, valued at $101,239,300.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,539,123 shares of company stock worth $12,962,492. Corporate insiders own 14.05% of the company’s stock.
Vonage Holdings Corp. (NYSE:VG) traded up $0.01 during midday trading on Thursday, hitting $9.93. The company’s stock had a trading volume of 2,028,435 shares, compared to its average volume of 2,540,506. Vonage Holdings Corp. has a 1 year low of $5.74 and a 1 year high of $10.49. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63. The company has a market cap of $2,298.15, a price-to-earnings ratio of 45.68, a PEG ratio of 7.13 and a beta of -0.04.
Vonage (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $253.10 million for the quarter, compared to analyst estimates of $249.02 million. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 EPS. analysts forecast that Vonage Holdings Corp. will post 0.28 earnings per share for the current year.
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Vonage Company 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.
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