Vonage Holdings Corp. (VG) Shares Bought by Nicholas Investment Partners LP

Nicholas Investment Partners LP increased its holdings in Vonage Holdings Corp. (NYSE:VG) by 40.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 422,724 shares of the technology company’s stock after acquiring an additional 121,902 shares during the quarter. Nicholas Investment Partners LP owned about 0.18% of Vonage worth $3,441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in VG. World Asset Management Inc purchased a new position in Vonage during the third quarter valued at $112,000. Bayesian Capital Management LP purchased a new position in Vonage during the second quarter valued at $118,000. Aperio Group LLC lifted its position in Vonage by 2.2% during the second quarter. Aperio Group LLC now owns 20,387 shares of the technology company’s stock valued at $133,000 after buying an additional 433 shares during the period. CIBC Asset Management Inc purchased a new position in Vonage during the third quarter valued at $148,000. Finally, SG Americas Securities LLC lifted its position in Vonage by 108.4% during the second quarter. SG Americas Securities LLC now owns 24,416 shares of the technology company’s stock valued at $160,000 after buying an additional 12,701 shares during the period. 84.01% of the stock is owned by institutional investors.

In related news, Director Jeffrey A. Citron sold 414,913 shares of Vonage stock in a transaction dated 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 completion of the sale, the director now directly owns 12,676,047 shares in the company, valued at approximately $102,929,501.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward M. Gilvar sold 17,778 shares of Vonage stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $9.76, for a total value of $173,513.28. Following the completion of the sale, the insider now owns 29,199 shares of the company’s stock, valued at $284,982.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,539,123 shares of company stock valued at $12,962,492. 14.05% of the stock is owned by insiders.

VG has been the subject of several recent research reports. Zacks Investment Research raised Vonage from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Saturday, November 11th. Citigroup reissued a “buy” rating and set a $11.00 price objective on shares of Vonage in a research report on Wednesday, November 8th. They noted that the move was a valuation call. Northland Securities reissued a “buy” rating and set a $9.50 price objective on shares of Vonage in a research report on Tuesday, September 5th. BidaskClub raised Vonage from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Craig Hallum reissued a “buy” rating and set a $11.00 price objective (up previously from $10.00) on shares of Vonage in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Vonage currently has an average rating of “Buy” and an average target price of $9.72.

Vonage Holdings Corp. (NYSE:VG) traded down $0.11 on Wednesday, hitting $10.05. The stock had a trading volume of 2,044,900 shares, compared to its average volume of 2,547,083. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2,323.30, a price-to-earnings ratio of 46.18, a PEG ratio of 7.21 and a beta of -0.04. Vonage Holdings Corp. has a 12-month low of $5.74 and a 12-month high of $10.49.

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

TRADEMARK VIOLATION NOTICE: “Vonage Holdings Corp. (VG) Shares Bought by Nicholas Investment Partners LP” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://www.com-unik.info/2017/12/06/vonage-holdings-corp-vg-shares-bought-by-nicholas-investment-partners-lp.html.

About Vonage

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 (NYSE:VG)

What are top analysts saying about Vonage Holdings Corp.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Vonage Holdings Corp. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit