Vonage Holdings Corp. (VG) Shares Sold by Menta Capital LLC
Menta Capital LLC cut its stake in Vonage Holdings Corp. (NYSE:VG) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 498,295 shares of the technology company’s stock after selling 6,681 shares during the period. Vonage Holdings Corp. accounts for approximately 0.4% of Menta Capital LLC’s portfolio, making the stock its 27th largest position. Menta Capital LLC owned 0.22% of Vonage Holdings Corp. worth $3,259,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nicholas Investment Partners LP purchased a new stake in Vonage Holdings Corp. in the second quarter worth about $1,968,000. Thrivent Financial For Lutherans lifted its holdings in Vonage Holdings Corp. by 41.2% in the second quarter. Thrivent Financial For Lutherans now owns 604,081 shares of the technology company’s stock worth $3,951,000 after buying an additional 176,351 shares during the period. Profund Advisors LLC lifted its holdings in Vonage Holdings Corp. by 16.2% in the second quarter. Profund Advisors LLC now owns 158,154 shares of the technology company’s stock worth $1,034,000 after buying an additional 22,077 shares during the period. Amalgamated Bank lifted its holdings in Vonage Holdings Corp. by 11.7% in the second quarter. Amalgamated Bank now owns 26,757 shares of the technology company’s stock worth $175,000 after buying an additional 2,805 shares during the period. Finally, Nationwide Fund Advisors lifted its holdings in Vonage Holdings Corp. by 19.7% in the second quarter. Nationwide Fund Advisors now owns 190,025 shares of the technology company’s stock worth $1,243,000 after buying an additional 31,302 shares during the period. Institutional investors and hedge funds own 79.57% of the company’s stock.
In other Vonage Holdings Corp. news, Director Jeffrey A. Citron sold 414,913 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $8.11, for a total value of $3,364,944.43. Following the completion of the sale, the director now directly owns 12,670,751 shares of the company’s stock, valued at approximately $102,759,790.61. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO David T. Pearson sold 198,350 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 216,119 shares of the company’s stock, valued at $1,744,080.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,028,176 shares of company stock valued at $7,774,590. 14.05% of the stock is owned by corporate insiders.
Several analysts have commented on VG shares. Robert W. Baird restated a “buy” rating and issued a $9.00 price objective on shares of Vonage Holdings Corp. in a report on Friday, September 1st. William Blair restated an “outperform” rating on shares of Vonage Holdings Corp. in a report on Wednesday, May 24th. Dougherty & Co lowered their price objective on shares of Vonage Holdings Corp. from $10.50 to $8.50 and set a “buy” rating for the company in a report on Friday, August 4th. Citigroup Inc. restated a “buy” rating and issued a $9.75 price objective on shares of Vonage Holdings Corp. in a report on Wednesday, September 13th. Finally, Zacks Investment Research lowered shares of Vonage Holdings Corp. from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $8.89.
Shares of Vonage Holdings Corp. (NYSE:VG) traded down 0.12% during trading on Tuesday, hitting $8.06. 246,938 shares of the company’s stock were exchanged. The stock has a market cap of $1.83 billion, a P/E ratio of 100.75 and a beta of -0.09. Vonage Holdings Corp. has a one year low of $5.74 and a one year high of $8.50. The firm has a 50-day moving average price of $7.94 and a 200-day moving average price of $6.91.
Vonage Holdings Corp. (NYSE:VG) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company 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 firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. Equities research analysts expect that Vonage Holdings Corp. will post $0.27 EPS for the current fiscal year.
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.
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