Emerald Advisers Inc. PA Has $29,589,000 Stake in Vonage Holdings Corp. (VG)
Emerald Advisers Inc. PA increased its position in Vonage Holdings Corp. (NYSE:VG) by 1.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,850,651 shares of the company’s stock after buying an additional 65,410 shares during the period. Vonage Holdings Corp. accounts for approximately 1.4% of Emerald Advisers Inc. PA’s portfolio, making the stock its 6th largest position. Emerald Advisers Inc. PA owned 2.27% of Vonage Holdings Corp. worth $29,589,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in VG. BlackRock Fund Advisors boosted its position in shares of Vonage Holdings Corp. by 2.8% in the first quarter. BlackRock Fund Advisors now owns 8,118,854 shares of the company’s stock worth $37,103,000 after buying an additional 218,425 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Vonage Holdings Corp. by 7.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,834,985 shares of the company’s stock worth $8,386,000 after buying an additional 133,061 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Vonage Holdings Corp. by 3.2% in the first quarter. Panagora Asset Management Inc. now owns 1,592,615 shares of the company’s stock worth $7,278,000 after buying an additional 49,805 shares in the last quarter. Adirondack Research & Management Inc. boosted its position in shares of Vonage Holdings Corp. by 1.0% in the first quarter. Adirondack Research & Management Inc. now owns 1,376,822 shares of the company’s stock worth $6,292,000 after buying an additional 13,800 shares in the last quarter. Finally, Shell Asset Management Co. boosted its position in shares of Vonage Holdings Corp. by 31.4% in the second quarter. Shell Asset Management Co. now owns 1,057,235 shares of the company’s stock worth $6,449,000 after buying an additional 252,701 shares in the last quarter. 73.59% of the stock is currently owned by institutional investors.
Shares of Vonage Holdings Corp. (NYSE:VG) traded down 1.280% on Tuesday, hitting $6.555. The stock had a trading volume of 1,992,822 shares. The firm’s 50-day moving average price is $6.17 and its 200 day moving average price is $5.32. The firm has a market cap of $1.42 billion, a P/E ratio of 92.324 and a beta of 0.73. Vonage Holdings Corp. has a 12 month low of $3.82 and a 12 month high of $7.42.
Vonage Holdings Corp. (NYSE:VG) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Vonage Holdings Corp. had a net margin of 1.71% and a return on equity of 17.58%. The company had revenue of $234 million for the quarter, compared to analyst estimates of $226.48 million. During the same period in the prior year, the company earned $0.09 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Vonage Holdings Corp. will post $0.28 EPS for the current fiscal year.
A number of equities analysts recently commented on VG shares. Dougherty & Co raised their target price on Vonage Holdings Corp. from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Summit Redstone reissued a “hold” rating on shares of Vonage Holdings Corp. in a report on Wednesday, July 6th. TheStreet raised Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, June 14th. FBN Securities reissued an “outperform” rating on shares of Vonage Holdings Corp. in a report on Tuesday, August 2nd. Finally, Citigroup Inc. raised Vonage Holdings Corp. from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.75 to $8.00 in a report on Tuesday, June 14th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $7.50.
In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 101,640 shares of the company’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $6.04, for a total value of $613,905.60. Following the completion of the transaction, the director now owns 12,644,516 shares in the company, valued at $76,372,876.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kurt Rogers sold 313,852 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $6.01, for a total transaction of $1,886,250.52. Following the completion of the transaction, the insider now owns 434,118 shares of the company’s stock, valued at approximately $2,609,049.18. The disclosure for this sale can be found here. 14.59% of the stock is currently owned by company insiders.
Vonage Holdings Corp. Company Profile
Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and business communication solutions across multiple devices. 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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