Trexquant Investment LP Buys New Holdings in Vonage Holdings Corp. (VG)
Trexquant Investment LP bought a new position in Vonage Holdings Corp. (NYSE:VG) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 31,275 shares of the technology company’s stock, valued at approximately $255,000.
Several other hedge funds have also recently modified their holdings of VG. World Asset Management Inc bought a new stake in shares of Vonage in the third quarter worth about $112,000. Bayesian Capital Management LP bought a new stake in Vonage during the second quarter worth approximately $118,000. Aperio Group LLC increased its stake in Vonage by 2.2% during the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock worth $133,000 after acquiring an additional 433 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Vonage during the third quarter worth approximately $148,000. Finally, SG Americas Securities LLC increased its stake in Vonage by 108.4% during the second quarter. SG Americas Securities LLC now owns 24,416 shares of the technology company’s stock worth $160,000 after acquiring an additional 12,701 shares during the last quarter. 84.01% of the stock is currently owned by hedge funds and other institutional investors.
In other Vonage news, insider Edward M. Gilvar sold 17,778 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 29,199 shares in the company, valued at $284,982.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $7.99, for a total value of $3,315,154.87. Following the transaction, the director now owns 12,670,751 shares of the company’s stock, valued at approximately $101,239,300.49. The disclosure for this sale can be found here. Insiders have sold 1,539,123 shares of company stock valued at $12,962,492 in the last 90 days. Company insiders own 14.05% of the company’s stock.
Several brokerages have weighed in on VG. Robert W. Baird reissued a “buy” rating and set a $9.00 price objective on shares of Vonage in a research note on Friday, September 1st. Oppenheimer boosted their price objective on Vonage from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective (up from $9.50) on shares of Vonage in a research note on Wednesday, November 8th. Northland Securities reissued a “buy” rating and set a $9.50 price objective on shares of Vonage in a research note on Thursday, October 12th. Finally, FBN Securities cut Vonage from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective on the stock. in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.72.
Shares of Vonage Holdings Corp. (NYSE:VG) traded up $0.01 during trading hours on Friday, hitting $9.93. The company’s stock had a trading volume of 2,028,400 shares, compared to its average volume of 2,540,668. Vonage Holdings Corp. has a fifty-two week low of $5.74 and a fifty-two week high of $10.49. The stock has a market capitalization of $2,268.42, a price-to-earnings ratio of 45.09, a PEG ratio of 7.04 and a beta of -0.04. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.51.
Vonage (NYSE:VG) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. Vonage had a return on equity of 11.47% and a net margin of 2.14%. The business had revenue of $253.10 million during the quarter, compared to analyst estimates of $249.02 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. analysts expect that Vonage Holdings Corp. will post 0.28 earnings per share for the current fiscal year.
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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