Highbridge Capital Management LLC acquired a new stake in Vonage Holdings Corp. (NYSE:VG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 85,741 shares of the technology company’s stock, valued at approximately $542,000.
Other large investors have also recently bought and sold shares of the company. Quantitative Systematic Strategies LLC purchased a new stake in Vonage Holdings Corp. during the first quarter valued at $105,000. Fifth Third Bancorp boosted its position in Vonage Holdings Corp. by 29.6% in the first quarter. Fifth Third Bancorp now owns 16,911 shares of the technology company’s stock worth $107,000 after buying an additional 3,863 shares during the period. Eqis Capital Management Inc. boosted its position in Vonage Holdings Corp. by 19.8% in the first quarter. Eqis Capital Management Inc. now owns 19,230 shares of the technology company’s stock worth $122,000 after buying an additional 3,176 shares during the period. Karp Capital Management Corp bought a new position in Vonage Holdings Corp. during the first quarter worth approximately $126,000. Finally, Parametrica Management Ltd bought a new position in Vonage Holdings Corp. during the first quarter worth approximately $143,000. 77.43% of the stock is owned by institutional investors and hedge funds.
Vonage Holdings Corp. (NYSE VG) traded down 2.92% during mid-day trading on Friday, reaching $6.65. 1,119,149 shares of the company’s stock were exchanged. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 109.02 and a beta of -0.01. Vonage Holdings Corp. has a one year low of $5.43 and a one year high of $7.88. The stock has a 50-day moving average of $6.66 and a 200-day moving average of $6.62.
Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Vonage Holdings Corp. had a return on equity of 13.56% and a net margin of 1.63%. The firm had revenue of $243.30 million during the quarter, compared to the consensus estimate of $242.40 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that Vonage Holdings Corp. will post $0.27 earnings per share for the current year.
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VG has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Wednesday, April 19th. William Blair reiterated a “buy” rating on shares of Vonage Holdings Corp. in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $8.15.
In other news, CFO David T. Pearson sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $7.00, for a total transaction of $14,000,000.00. Following the transaction, the chief financial officer now directly owns 948,241 shares of the company’s stock, valued at $6,637,687. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mcgonigal Graham sold 44,523 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $7.25, for a total value of $322,791.75. Following the transaction, the senior vice president now directly owns 145,673 shares in the company, valued at $1,056,129.25. The disclosure for this sale can be found here. Insiders sold 4,114,375 shares of company stock valued at $28,610,719 in the last quarter. Corporate insiders own 14.05% of the company’s stock.
Vonage Holdings Corp. Company 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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