Qube Research & Technologies Ltd Invests $15.28 Million in Vonage Holdings Corp. (NASDAQ:VG)

Qube Research & Technologies Ltd purchased a new position in shares of Vonage Holdings Corp. (NASDAQ:VGGet Rating) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 752,853 shares of the company’s stock, valued at approximately $15,275,000. Qube Research & Technologies Ltd owned 0.29% of Vonage at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Millennium Management LLC acquired a new stake in Vonage in the 4th quarter valued at approximately $103,496,000. Pentwater Capital Management LP bought a new stake in shares of Vonage during the 4th quarter worth $88,940,000. Versor Investments LP lifted its holdings in shares of Vonage by 14,035.3% in the fourth quarter. Versor Investments LP now owns 4,042,694 shares of the company’s stock valued at $84,048,000 after purchasing an additional 4,014,094 shares in the last quarter. Glazer Capital LLC purchased a new stake in shares of Vonage in the fourth quarter valued at $58,864,000. Finally, Bank of America Corp DE lifted its holdings in shares of Vonage by 58.8% in the fourth quarter. Bank of America Corp DE now owns 5,194,063 shares of the company’s stock valued at $107,984,000 after purchasing an additional 1,922,485 shares in the last quarter. 91.36% of the stock is currently owned by institutional investors and hedge funds.

Vonage Price Performance

VG stock opened at $20.99 on Friday. Vonage Holdings Corp. has a twelve month low of $12.85 and a twelve month high of $21.00. The company has a market cap of $5.39 billion, a PE ratio of -123.46 and a beta of 0.60. The business’s 50-day simple moving average is $19.27 and its 200 day simple moving average is $19.81. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

Vonage (NASDAQ:VGGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). Vonage had a positive return on equity of 2.53% and a negative net margin of 2.87%. The firm had revenue of $358.80 million for the quarter, compared to analyst estimates of $367.15 million. During the same period last year, the business earned $0.05 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Vonage Holdings Corp. will post 0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Craig Hallum lowered Vonage from a “hold” rating to a “sell” rating and reduced their target price for the company from $21.00 to $14.50 in a report on Friday, June 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Vonage presently has an average rating of “Hold” and a consensus price target of $18.94.

Vonage Profile

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Vonage Holdings Corp. primarily operates as a cloud communications company in the United States, Canada, the United Kingdom, the European Union, and Asia. It operates in two segments, Vonage Communications Platform and Consumer. The Vonage Communications Platform segment offers programmable, embeddable, and customizable application program interfaces that enable software developers to build communications capabilities, such as messaging and voice calling within their applications; and Vonage Contact Center, a cloud contact center solution.

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Institutional Ownership by Quarter for Vonage (NASDAQ:VG)

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