Tieton Capital Management LLC lowered its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 58.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 151,860 shares of the technology company’s stock after selling 213,150 shares during the period. Vonage accounts for approximately 1.3% of Tieton Capital Management LLC’s holdings, making the stock its 27th largest position. Tieton Capital Management LLC’s holdings in Vonage were worth $1,544,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Vonage by 0.9% during the fourth quarter. BlackRock Inc. now owns 28,008,139 shares of the technology company’s stock worth $284,843,000 after acquiring an additional 261,883 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Vonage by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 6,984,257 shares of the technology company’s stock worth $56,853,000 after acquiring an additional 22,698 shares during the period. First Trust Advisors LP boosted its holdings in shares of Vonage by 0.3% during the fourth quarter. First Trust Advisors LP now owns 6,503,508 shares of the technology company’s stock worth $66,141,000 after acquiring an additional 16,551 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Vonage by 103.5% during the third quarter. Bank of New York Mellon Corp now owns 2,674,457 shares of the technology company’s stock worth $21,769,000 after acquiring an additional 1,360,141 shares during the period. Finally, Magnetar Financial LLC boosted its holdings in shares of Vonage by 4.4% during the third quarter. Magnetar Financial LLC now owns 1,791,337 shares of the technology company’s stock worth $14,581,000 after acquiring an additional 75,837 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.
A number of brokerages have recently issued reports on VG. Summit Redstone restated a “hold” rating on shares of Vonage in a report on Friday, February 9th. Robert W. Baird restated a “buy” rating and set a $11.00 price objective on shares of Vonage in a report on Wednesday, January 3rd. Oppenheimer boosted their price objective on Vonage from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target (up from $9.50) on shares of Vonage in a research report on Wednesday, November 8th. Finally, Craig Hallum reiterated a “buy” rating and issued a $11.00 price target (up from $10.00) on shares of Vonage in a research report on Tuesday, November 7th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $10.41.
Vonage (NYSE:VG) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). Vonage had a negative net margin of 3.39% and a positive return on equity of 14.13%. The firm had revenue of $254.00 million for the quarter, compared to analyst estimates of $254.19 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. equities research analysts forecast that Vonage Holdings Corp. will post 0.37 EPS for the current fiscal year.
In other news, Director Jeffrey A. Citron sold 138,303 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $10.14, for a total transaction of $1,402,392.42. Following the completion of the transaction, the director now directly owns 10,676,047 shares in the company, valued at $108,255,116.58. 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 238,303 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $10.07, for a total transaction of $2,399,711.21. Following the transaction, the director now owns 10,680,286 shares of the company’s stock, valued at $107,550,480.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,306,435 shares of company stock valued at $13,365,596. Company insiders own 14.05% of the company’s stock.
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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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