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.
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.
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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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