Calamos Wealth Management LLC purchased a new stake in Vonage Holdings Corp. (NASDAQ:VG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 263,351 shares of the company’s stock, valued at approximately $3,113,000. Calamos Wealth Management LLC owned approximately 0.11% of Vonage as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Janus Henderson Group PLC increased its stake in shares of Vonage by 2.7% in the 4th quarter. Janus Henderson Group PLC now owns 16,034,551 shares of the company’s stock valued at $206,445,000 after purchasing an additional 414,320 shares in the last quarter. Park West Asset Management LLC boosted its holdings in Vonage by 33.7% in the 4th quarter. Park West Asset Management LLC now owns 8,020,873 shares of the company’s stock worth $103,269,000 after buying an additional 2,020,873 shares during the last quarter. Norges Bank acquired a new stake in Vonage in the 4th quarter worth about $48,739,000. Artemis Investment Management LLP boosted its holdings in Vonage by 9.2% in the 4th quarter. Artemis Investment Management LLP now owns 3,782,765 shares of the company’s stock worth $48,754,000 after buying an additional 317,131 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Vonage by 40.3% during the 4th quarter. Victory Capital Management Inc. now owns 3,491,625 shares of the company’s stock worth $44,955,000 after purchasing an additional 1,002,239 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.
Several brokerages have recently weighed in on VG. Oppenheimer began coverage on Vonage in a report on Thursday, February 18th. They set a “buy” rating and a $14.00 target price on the stock. Summit Insights restated a “hold” rating on shares of Vonage in a report on Thursday, February 18th. Needham & Company LLC boosted their target price on Vonage from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Citigroup lifted their price target on shares of Vonage from $15.00 to $16.00 in a research report on Friday, March 5th. Finally, Zacks Investment Research raised shares of Vonage from a “sell” rating to a “hold” rating in a research report on Saturday, February 20th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Vonage has an average rating of “Buy” and a consensus price target of $14.25.
In related news, Director Jeffrey A. Citron sold 300,000 shares of the stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $15.04, for a total transaction of $4,512,000.00. Following the completion of the transaction, the director now directly owns 8,734,542 shares of the company’s stock, valued at $131,367,511.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Citron sold 50,000 shares of the stock in a transaction dated Wednesday, January 13th. The stock was sold at an average price of $13.49, for a total transaction of $674,500.00. Following the transaction, the director now directly owns 8,734,542 shares of the company’s stock, valued at $117,828,971.58. The disclosure for this sale can be found here. Insiders have sold 412,858 shares of company stock valued at $6,082,725 in the last quarter. Insiders own 6.50% of the company’s stock.
Shares of Vonage stock traded up $0.14 during trading hours on Monday, reaching $12.51. 75,879 shares of the company were exchanged, compared to its average volume of 3,113,428. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s fifty day moving average is $12.43 and its 200 day moving average is $13.13. The firm has a market cap of $3.12 billion, a PE ratio of -125.59, a PEG ratio of 14.23 and a beta of 0.62. Vonage Holdings Corp. has a 1 year low of $7.46 and a 1 year high of $15.72.
Vonage (NASDAQ:VG) last issued its earnings results on Wednesday, February 17th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Vonage had a positive return on equity of 9.76% and a negative net margin of 1.99%. The firm had revenue of $323.30 million for the quarter, compared to analyst estimates of $316.15 million. Research analysts expect that Vonage Holdings Corp. will post 0.21 earnings per share for the current year.
Vonage Company Profile
Vonage Holdings Corp. provides cloud communications services for businesses and consumers. It operates through two segments, Business and Consumer. The Business segment offers cloud-based applications comprising integrated voice, text, video, data, collaboration, and mobile applications over SIP based VoIP network; API solutions designed to enhance the way businesses communicate with their customers by embedding communications into apps, websites, and business processes; and Vonage Business Cloud and Vonage Enterprise services.
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