Invictus RG acquired a new position in Vonage Holdings Corp. (NYSE:VG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,100 shares of the technology company’s stock, valued at approximately $278,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Vonage by 2.2% in the second quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock valued at $131,960,000 after acquiring an additional 437,370 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Vonage by 0.3% in the second quarter. Alliancebernstein L.P. now owns 9,899,093 shares of the technology company’s stock worth $64,740,000 after acquiring an additional 32,532 shares during the last quarter. Cramer Rosenthal Mcglynn LLC lifted its holdings in shares of Vonage by 6.0% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 7,596,028 shares of the technology company’s stock worth $49,678,000 after acquiring an additional 427,218 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Vonage by 12.2% in the second quarter. First Trust Advisors LP now owns 7,180,454 shares of the technology company’s stock worth $46,960,000 after acquiring an additional 780,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Vonage by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,984,257 shares of the technology company’s stock valued at $56,853,000 after buying an additional 22,698 shares during the last quarter. 84.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vonage Holdings Corp. (NYSE VG) traded down $0.03 during mid-day trading on Friday, reaching $10.22. The company’s stock had a trading volume of 4,262,362 shares, compared to its average volume of 1,883,902. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2,343.88, a P/E ratio of 46.59, a P/E/G ratio of 7.27 and a beta of -0.04. Vonage Holdings Corp. has a 12-month low of $5.74 and a 12-month high of $10.49.
Vonage (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $253.10 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. equities analysts forecast that Vonage Holdings Corp. will post 0.28 EPS for the current year.
In other news, insider Edward M. Gilvar sold 17,778 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $9.76, for a total transaction of $173,513.28. Following the transaction, the insider now directly owns 29,199 shares of the company’s stock, valued at $284,982.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 138,303 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $8.90, for a total value of $1,230,896.70. Following the completion of the transaction, the director now directly owns 11,676,047 shares in the company, valued at approximately $103,916,818.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,539,123 shares of company stock worth $12,962,492. Insiders own 14.05% of the company’s stock.
Several analysts recently issued reports on VG shares. Robert W. Baird reissued a “buy” rating and issued a $9.00 price target on shares of Vonage in a research report on Friday, September 1st. Oppenheimer raised their price objective on Vonage from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Northland Securities reiterated a “buy” rating and set a $9.50 target price on shares of Vonage in a research note on Thursday, October 12th. Needham & Company LLC reissued a “buy” rating and issued a $9.50 price objective on shares of Vonage in a report on Wednesday, September 27th. Finally, Craig Hallum reissued a “buy” rating and issued a $11.00 price objective (up previously from $10.00) on shares of Vonage in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $9.94.
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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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