GSA Capital Partners LLP Lowers Holdings in Vonage Holdings Corp. (VG)
GSA Capital Partners LLP trimmed its holdings in Vonage Holdings Corp. (NYSE:VG) by 21.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,531 shares of the technology company’s stock after selling 37,099 shares during the period. GSA Capital Partners LLP owned about 0.06% of Vonage Holdings Corp. worth $913,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in VG. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Vonage Holdings Corp. during the first quarter valued at approximately $1,192,000. Pier Capital LLC bought a new stake in shares of Vonage Holdings Corp. in the second quarter valued at $5,348,000. First Washington CORP bought a new stake in shares of Vonage Holdings Corp. in the second quarter valued at $2,446,000. Federated Investors Inc. PA raised its stake in shares of Vonage Holdings Corp. by 13.9% in the second quarter. Federated Investors Inc. PA now owns 2,004,456 shares of the technology company’s stock valued at $13,109,000 after buying an additional 243,979 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Vonage Holdings Corp. by 36,952.8% in the first quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock valued at $99,564,000 after buying an additional 15,711,217 shares during the period. 79.57% of the stock is currently owned by hedge funds and other institutional investors.
Vonage Holdings Corp. (NYSE VG) opened at 8.19 on Tuesday. The stock has a market cap of $1.86 billion, a PE ratio of 102.38 and a beta of -0.11. Vonage Holdings Corp. has a 1-year low of $5.74 and a 1-year high of $8.59. The stock has a 50 day moving average price of $8.07 and a 200 day moving average price of $7.05.
Vonage Holdings Corp. (NYSE:VG) last released its earnings results on Thursday, August 3rd. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The company had revenue of $252.00 million for the quarter, compared to the consensus estimate of $242.05 million. During the same quarter in the previous year, the firm earned $0.08 EPS. Vonage Holdings Corp.’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that Vonage Holdings Corp. will post $0.27 EPS for the current fiscal year.
In other news, CFO David T. Pearson sold 198,350 shares of Vonage Holdings Corp. stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $8.07, for a total value of $1,600,684.50. Following the sale, the chief financial officer now owns 216,119 shares in the company, valued at $1,744,080.33. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of Vonage Holdings Corp. stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $8.11, for a total transaction of $3,364,944.43. Following the completion of the sale, the director now owns 12,670,751 shares in the company, valued at approximately $102,759,790.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,028,176 shares of company stock worth $8,280,784. 14.05% of the stock is owned by corporate insiders.
Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Dougherty & Co lowered their price objective on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating on the stock in a research report on Friday, August 4th. BidaskClub upgraded Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. FBN Securities lowered shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 target price for the company. in a research report on Thursday, August 10th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $9.00 price objective on shares of Vonage Holdings Corp. in a report on Friday, September 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Vonage Holdings Corp. presently has a consensus rating of “Buy” and an average price target of $8.96.
Vonage Holdings Corp. 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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