Vonage Holdings Corp. (VG) Short Interest Down 21.9% in August
Vonage Holdings Corp. (NYSE:VG) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 11,610,792 shares, a decrease of 21.9% from the August 15th total of 14,863,619 shares. Based on an average trading volume of 1,982,253 shares, the short-interest ratio is currently 5.9 days. Currently, 5.7% of the shares of the stock are short sold.
A number of equities analysts have weighed in on the stock. FBN Securities cut shares of Vonage Holdings Corp. from an “outperform” rating to a “sector perform” rating and set a $8.70 price objective for the company. in a research report on Thursday, August 10th. Robert W. Baird restated a “buy” rating and set a $9.00 price objective on shares of Vonage Holdings Corp. in a research report on Friday, September 1st. BidaskClub upgraded shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Northland Securities restated a “buy” rating and set a $9.50 price objective on shares of Vonage Holdings Corp. in a research report on Tuesday, September 5th. Finally, Citigroup Inc. restated a “buy” rating and set a $9.75 price objective on shares of Vonage Holdings Corp. in a research report on Wednesday, September 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $8.89.
In other Vonage Holdings Corp. news, CFO David T. Pearson sold 198,350 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $8.07, for a total transaction of $1,600,684.50. Following the completion of the transaction, the chief financial officer now directly owns 216,119 shares in the company, valued at $1,744,080.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey A. Citron sold 414,913 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $8.11, for a total transaction of $3,364,944.43. Following the transaction, the director now owns 12,670,751 shares of the company’s stock, valued at $102,759,790.61. The disclosure for this sale can be found here. Corporate insiders own 14.05% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in VG. BlackRock Inc. boosted its position in shares of Vonage Holdings Corp. by 36,952.8% in the 1st quarter. BlackRock Inc. now owns 15,753,734 shares of the technology company’s stock worth $99,564,000 after buying an additional 15,711,217 shares in the last quarter. Alliancebernstein L.P. raised its stake in Vonage Holdings Corp. by 998.4% in the 1st quarter. Alliancebernstein L.P. now owns 9,866,561 shares of the technology company’s stock valued at $62,357,000 after purchasing an additional 8,968,261 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Vonage Holdings Corp. in the 2nd quarter valued at about $27,468,000. SQN Investors LP raised its stake in Vonage Holdings Corp. by 111.0% in the 2nd quarter. SQN Investors LP now owns 5,647,830 shares of the technology company’s stock valued at $36,937,000 after purchasing an additional 2,970,716 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Vonage Holdings Corp. by 16.9% in the 1st quarter. Wellington Management Group LLP now owns 17,507,400 shares of the technology company’s stock valued at $110,647,000 after purchasing an additional 2,533,213 shares during the last quarter. Institutional investors and hedge funds own 79.57% of the company’s stock.
Shares of Vonage Holdings Corp. (NYSE:VG) opened at 7.97 on Thursday. Vonage Holdings Corp. has a 12 month low of $5.74 and a 12 month high of $8.50. The firm has a market capitalization of $1.81 billion, a PE ratio of 99.62 and a beta of -0.09. The stock has a 50 day moving average of $7.98 and a 200-day moving average of $6.92.
Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The business had revenue of $252.00 million for the quarter, compared to analyst estimates of $242.05 million. During the same period in the previous year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Vonage Holdings Corp. will post $0.26 EPS for the current fiscal year.
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Vonage Holdings Corp. Company Profile
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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