Quantitative Investment Management LLC Lowers Position in Vonage Holdings (VG)

Quantitative Investment Management LLC decreased its stake in shares of Vonage Holdings (NYSE:VG) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 439,400 shares of the technology company’s stock after selling 99,500 shares during the period. Quantitative Investment Management LLC owned approximately 0.19% of Vonage worth $4,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Vonage by 87.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,788 shares of the technology company’s stock worth $100,000 after purchasing an additional 4,569 shares during the period. American International Group Inc. boosted its holdings in shares of Vonage by 3.0% during the fourth quarter. American International Group Inc. now owns 163,914 shares of the technology company’s stock worth $1,667,000 after purchasing an additional 4,803 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Vonage by 3.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 155,658 shares of the technology company’s stock worth $1,584,000 after purchasing an additional 5,251 shares during the period. LS Investment Advisors LLC lifted its stake in Vonage by 83.5% in the fourth quarter. LS Investment Advisors LLC now owns 12,490 shares of the technology company’s stock valued at $127,000 after acquiring an additional 5,683 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Vonage by 6.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 89,500 shares of the technology company’s stock valued at $910,000 after acquiring an additional 5,700 shares during the last quarter. 86.28% of the stock is currently owned by institutional investors.

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Shares of NYSE:VG opened at $10.56 on Friday. Vonage Holdings has a 52 week low of $6.09 and a 52 week high of $11.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 0.67. The firm has a market capitalization of $2,391.90, a PE ratio of 37.71, a PEG ratio of 5.75 and a beta of 0.04.

Vonage (NYSE:VG) last issued its earnings results on Wednesday, February 21st. The technology company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). The firm had revenue of $254.00 million during the quarter, compared to analyst estimates of $254.19 million. Vonage had a negative net margin of 3.39% and a positive return on equity of 14.13%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 EPS. sell-side analysts forecast that Vonage Holdings will post 0.36 EPS for the current year.

A number of analysts have issued reports on VG shares. Zacks Investment Research reiterated a “hold” rating and issued a $11.00 target price on shares of Vonage in a research note on Saturday, January 13th. Needham & Company LLC boosted their price objective on shares of Vonage from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. ValuEngine upgraded shares of Vonage from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $12.00 target price (up previously from $11.00) on shares of Vonage in a research report on Thursday, February 22nd. Finally, Summit Redstone reaffirmed a “hold” rating on shares of Vonage in a research report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.41.

In other Vonage news, Director Jeffrey A. Citron sold 238,303 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $10.07, for a total transaction of $2,399,711.21. Following the transaction, the director now directly owns 10,680,286 shares in the company, valued at approximately $107,550,480.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey A. Citron sold 514,913 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $10.37, for a total transaction of $5,339,647.81. Following the transaction, the director now owns 10,680,286 shares in the company, valued at $110,754,565.82. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 100,000 shares of company stock worth $21,330 and have sold 2,228,591 shares worth $23,400,007. 14.05% of the stock is owned by corporate insiders.

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About Vonage

Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.

Institutional Ownership by Quarter for Vonage (NYSE:VG)

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