Cramer Rosenthal Mcglynn LLC increased its holdings in shares of Vonage Holdings Corp. (NYSE:VG) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,596,028 shares of the technology company’s stock after buying an additional 427,218 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 3.34% of Vonage Holdings Corp. worth $49,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Vonage Holdings Corp. by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,177,322 shares of the technology company’s stock valued at $131,960,000 after acquiring an additional 437,370 shares during the period. Wellington Management Group LLP increased its holdings 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 worth $110,647,000 after acquiring an additional 2,533,213 shares in the last quarter. BlackRock Inc. increased its holdings in 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 acquiring an additional 15,711,217 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Vonage Holdings Corp. by 0.3% in the 2nd quarter. Alliancebernstein L.P. now owns 9,899,093 shares of the technology company’s stock worth $64,740,000 after acquiring an additional 32,532 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Vonage Holdings Corp. by 12.2% in the 2nd quarter. First Trust Advisors LP now owns 7,180,454 shares of the technology company’s stock worth $46,960,000 after acquiring an additional 780,436 shares in the last quarter. Hedge funds and other institutional investors own 79.57% of the company’s stock.

VG has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $9.50 price objective on shares of Vonage Holdings Corp. in a research report on Wednesday, September 27th. Citigroup Inc. reiterated a “buy” rating and issued a $9.75 target price on shares of Vonage Holdings Corp. in a research report on Wednesday, September 13th. Northland Securities reiterated a “buy” rating and issued a $9.50 target price on shares of Vonage Holdings Corp. in a research report on Tuesday, September 5th. Robert W. Baird reiterated a “buy” rating and issued a $9.00 target price on shares of Vonage Holdings Corp. in a research report on Friday, September 1st. Finally, BidaskClub raised shares of Vonage Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Vonage Holdings Corp. currently has an average rating of “Buy” and an average target price of $8.96.

In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 414,913 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $7.99, for a total value of $3,315,154.87. Following the sale, the director now owns 12,670,751 shares of the company’s stock, valued at $101,239,300.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,600,684.50. Following the completion of the sale, the chief financial officer now directly owns 216,119 shares in the company, valued at approximately $1,744,080.33. The disclosure for this sale can be found here. Insiders have sold 1,028,176 shares of company stock worth $8,280,784 over the last 90 days. 14.05% of the stock is currently owned by company insiders.

Shares of Vonage Holdings Corp. (NYSE:VG) traded down 0.35% during mid-day trading on Wednesday, hitting $8.45. The company had a trading volume of 531,249 shares. Vonage Holdings Corp. has a 12 month low of $5.74 and a 12 month high of $8.59. The firm has a 50-day moving average price of $8.08 and a 200 day moving average price of $7.07. The firm has a market capitalization of $1.92 billion, a P/E ratio of 105.62 and a beta of -0.11.

Vonage Holdings Corp. (NYSE:VG) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $242.05 million. Vonage Holdings Corp. had a net margin of 2.00% and a return on equity of 12.40%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 earnings per share. On average, equities research analysts forecast that Vonage Holdings Corp. will post $0.27 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Vonage Holdings Corp. (VG) Stake Lifted by Cramer Rosenthal Mcglynn LLC” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/10/04/vonage-holdings-corp-vg-stake-lifted-by-cramer-rosenthal-mcglynn-llc.html.

About Vonage Holdings Corp.

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.

Want to see what other hedge funds are holding VG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vonage Holdings Corp. (NYSE:VG).

Institutional Ownership by Quarter for Vonage Holdings Corp. (NYSE:VG)

Receive News & Stock Ratings for Vonage Holdings Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage Holdings Corp. and related stocks with our FREE daily email newsletter.