Cowen Prime Services LLC Has $6.67 Million Holdings in Vonage Holdings Corp. (VG)

Cowen Prime Services LLC cut its stake in Vonage Holdings Corp. (NYSE:VG) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 819,700 shares of the technology company’s stock after selling 112,400 shares during the quarter. Vonage Holdings Corp. makes up approximately 3.2% of Cowen Prime Services LLC’s investment portfolio, making the stock its 6th largest position. Cowen Prime Services LLC owned approximately 0.36% of Vonage Holdings Corp. worth $6,672,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. World Asset Management Inc acquired a new position in Vonage Holdings Corp. in the third quarter valued at approximately $112,000. Bayesian Capital Management LP purchased a new stake in shares of Vonage Holdings Corp. in the second quarter valued at approximately $118,000. CIBC Asset Management Inc purchased a new stake in shares of Vonage Holdings Corp. in the third quarter valued at approximately $148,000. Quantitative Systematic Strategies LLC increased its position in shares of Vonage Holdings Corp. by 19.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 19,671 shares of the technology company’s stock valued at $131,000 after buying an additional 3,136 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its position in shares of Vonage Holdings Corp. by 4.2% in the second quarter. Eqis Capital Management Inc. now owns 20,043 shares of the technology company’s stock valued at $131,000 after buying an additional 813 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

In related news, Director Jeffrey A. Citron sold 138,303 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $8.15, for a total transaction of $1,127,169.45. Following the completion of the sale, the director now directly owns 12,676,047 shares in the company, valued at $103,309,783.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $8.12, for a total value of $3,369,093.56. Following the sale, the director now owns 12,676,047 shares of the company’s stock, valued at $102,929,501.64. The disclosure for this sale can be found here. Insiders have sold 1,521,345 shares of company stock valued at $12,788,979 over the last quarter. 14.05% of the stock is owned by company insiders.

A number of research firms have recently commented on VG. Robert W. Baird restated a “buy” rating and issued a $9.00 price objective on shares of Vonage Holdings Corp. in a research report on Friday, September 1st. Dougherty & Co cut their price objective on Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. boosted their price objective on Vonage Holdings Corp. from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective (up from $9.50) on shares of Vonage Holdings Corp. in a research report on Wednesday, November 8th. Finally, Northland Securities restated a “buy” rating and issued a $9.50 price objective on shares of Vonage Holdings Corp. in a research report on Thursday, October 12th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Vonage Holdings Corp. currently has an average rating of “Buy” and a consensus target price of $9.72.

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Shares of Vonage Holdings Corp. (VG) traded up $0.23 on Thursday, hitting $9.94. The company had a trading volume of 2,584,000 shares, compared to its average volume of 2,564,250. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.64 and a quick ratio of 0.63. Vonage Holdings Corp. has a 52-week low of $5.74 and a 52-week high of $9.97. The stock has a market capitalization of $2,220.40, a PE ratio of 44.14, a price-to-earnings-growth ratio of 6.89 and a beta of -0.14.

Vonage Holdings Corp. (NYSE:VG) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.07 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. Vonage Holdings Corp. had a return on equity of 11.47% and a net margin of 2.14%. The firm had revenue of $253.10 million during the quarter, compared to analysts’ expectations of $249.02 million. During the same period in the previous year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. sell-side analysts predict that Vonage Holdings Corp. will post 0.28 EPS for the current year.

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.

Institutional Ownership by Quarter for Vonage Holdings Corp. (NYSE:VG)

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