Seven Eight Capital LP Takes $149,000 Position in Vonage Holdings Corp. (VG)

Seven Eight Capital LP bought a new stake in shares of Vonage Holdings Corp. (NYSE:VG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,500 shares of the technology company’s stock, valued at approximately $149,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VG. Mount Yale Investment Advisors LLC bought a new stake in Vonage during the 1st quarter valued at $129,000. Brown Advisory Inc. bought a new stake in Vonage during the 1st quarter valued at $149,000. Meeder Asset Management Inc. boosted its position in Vonage by 63.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 11,738 shares of the technology company’s stock valued at $151,000 after acquiring an additional 4,566 shares in the last quarter. Hartford Investment Management Co. bought a new stake in Vonage during the 2nd quarter valued at $212,000. Finally, KBC Group NV bought a new stake in Vonage during the 2nd quarter valued at $276,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

In other Vonage news, CEO Alan Masarek sold 500,000 shares of Vonage stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $14.32, for a total transaction of $7,160,000.00. Following the completion of the sale, the chief executive officer now owns 495,189 shares of the company’s stock, valued at approximately $7,091,106.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey A. Citron sold 233,332 shares of Vonage stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $14.43, for a total value of $3,366,980.76. Following the sale, the director now directly owns 10,650,784 shares of the company’s stock, valued at approximately $153,690,813.12. The disclosure for this sale can be found here. Insiders sold a total of 2,550,893 shares of company stock valued at $35,711,797 in the last three months. Insiders own 8.70% of the company’s stock.

Vonage stock opened at $12.92 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $3.13 billion, a PE ratio of 46.14, a price-to-earnings-growth ratio of 6.98 and a beta of -0.06. Vonage Holdings Corp. has a 1-year low of $7.85 and a 1-year high of $14.73.

Vonage (NYSE:VG) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.07 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.07. The firm had revenue of $260.00 million during the quarter, compared to analysts’ expectations of $254.95 million. Vonage had a positive return on equity of 16.92% and a negative net margin of 1.14%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. As a group, equities research analysts expect that Vonage Holdings Corp. will post 0.36 EPS for the current fiscal year.

A number of analysts have recently weighed in on the company. William Blair reissued an “outperform” rating on shares of Vonage in a research report on Monday, September 24th. Citigroup raised their price objective on Vonage to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. They noted that the move was a valuation call. Zacks Investment Research cut Vonage from a “buy” rating to a “hold” rating in a research report on Saturday, August 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Vonage in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $12.83.

Vonage Company Profile

Vonage Holdings Corp. provides communications services connecting people through cloud-connected devices worldwide. It offers various business services, including basic dial tone, call queue, conferencing, call groups, mobile functionality, CRM integration, and detailed analytics, as well as Vonage Business Cloud and Vonage Enterprise services.

See Also: Preferred Stock

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Institutional Ownership by Quarter for Vonage (NYSE:VG)

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