James Investment Research Inc. lessened its holdings in Vonage Holdings Corp. (NYSE:VG) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,045 shares of the technology company’s stock after selling 4,825 shares during the quarter. James Investment Research Inc.’s holdings in Vonage were worth $1,318,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in VG. Russell Investments Group Ltd. increased its position in shares of Vonage by 355.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 863,266 shares of the technology company’s stock valued at $12,229,000 after purchasing an additional 673,526 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Vonage by 91.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 48,919 shares of the technology company’s stock valued at $660,000 after purchasing an additional 23,349 shares during the last quarter. Strs Ohio increased its position in shares of Vonage by 70.8% during the 3rd quarter. Strs Ohio now owns 202,100 shares of the technology company’s stock valued at $2,861,000 after purchasing an additional 83,800 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Vonage in the 3rd quarter worth about $149,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Vonage in the 3rd quarter worth about $1,466,000. 85.07% of the stock is owned by institutional investors.
In other Vonage news, CFO David T. Pearson sold 159,000 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $13.48, for a total value of $2,143,320.00. Following the completion of the transaction, the chief financial officer now owns 255,009 shares in the company, valued at approximately $3,437,521.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen Fisher sold 163,951 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $13.33, for a total value of $2,185,466.83. Following the completion of the transaction, the director now owns 80,409 shares of the company’s stock, valued at approximately $1,071,851.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,550,893 shares of company stock valued at $35,711,797. 8.70% of the stock is owned by corporate insiders.
Shares of NYSE VG opened at $11.53 on Friday. Vonage Holdings Corp. has a 52 week low of $7.90 and a 52 week high of $14.73. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 6.35 and a beta of -0.02.
Vonage (NYSE:VG) last issued its earnings results on Friday, November 2nd. The technology company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Vonage had a positive return on equity of 16.92% and a negative net margin of 1.14%. The business had revenue of $261.53 million during the quarter, compared to the consensus estimate of $263.91 million. During the same quarter last year, the company earned $0.07 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Vonage Holdings Corp. will post 0.36 earnings per share for the current fiscal year.
Several brokerages recently weighed in on VG. William Blair reissued an “outperform” rating on shares of Vonage in a report on Monday, September 24th. Citigroup lifted their price objective on Vonage to $16.00 and gave the stock a “buy” rating in a report on Monday, July 16th. They noted that the move was a valuation call. Zacks Investment Research lowered Vonage from a “buy” rating to a “hold” rating in a report on Saturday, August 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Vonage in a report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Vonage has a consensus rating of “Buy” and a consensus price target of $12.83.
Vonage Company Profile
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.
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