Candriam Luxembourg S.C.A. Sells 7,013,724 Shares of Vonage Holdings Corp. (NASDAQ:VG)

Candriam Luxembourg S.C.A. reduced its position in shares of Vonage Holdings Corp. (NASDAQ:VGGet Rating) by 92.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 556,276 shares of the company’s stock after selling 7,013,724 shares during the quarter. Candriam Luxembourg S.C.A. owned about 0.22% of Vonage worth $11,931,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rafferty Asset Management LLC increased its holdings in Vonage by 6.6% during the 4th quarter. Rafferty Asset Management LLC now owns 249,836 shares of the company’s stock worth $5,194,000 after purchasing an additional 15,372 shares during the period. Citigroup Inc. increased its holdings in Vonage by 445.5% during the 4th quarter. Citigroup Inc. now owns 785,269 shares of the company’s stock worth $16,326,000 after purchasing an additional 641,313 shares during the period. Kellner Capital LLC purchased a new position in Vonage during the 4th quarter worth $293,000. Teacher Retirement System of Texas increased its holdings in Vonage by 28.5% during the 4th quarter. Teacher Retirement System of Texas now owns 46,333 shares of the company’s stock worth $963,000 after purchasing an additional 10,271 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in Vonage by 549.7% during the 4th quarter. WINTON GROUP Ltd now owns 367,035 shares of the company’s stock worth $7,631,000 after purchasing an additional 310,541 shares during the period. Institutional investors own 91.36% of the company’s stock.

Shares of VG stock opened at $18.70 on Wednesday. The stock has a market cap of $4.80 billion, a PE ratio of -109.99 and a beta of 0.60. The business has a 50-day simple moving average of $19.91 and a 200-day simple moving average of $19.97. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. Vonage Holdings Corp. has a 52-week low of $12.85 and a 52-week high of $20.92.

Vonage (NASDAQ:VGGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $358.80 million during the quarter, compared to analyst estimates of $367.15 million. Vonage had a negative net margin of 2.87% and a positive return on equity of 2.53%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. Sell-side analysts anticipate that Vonage Holdings Corp. will post 0.14 earnings per share for the current fiscal year.

Separately, Zacks Investment Research upgraded Vonage from a “sell” rating to a “hold” rating in a report on Thursday, May 5th. Thirteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.57.

In other Vonage news, CMO Joy Corso sold 11,470 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $19.99, for a total transaction of $229,285.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rory P. Read sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $20.35, for a total value of $1,017,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 281,452 shares of company stock valued at $5,659,077. 4.72% of the stock is owned by company insiders.

Vonage Company Profile (Get Rating)

Vonage Holdings Corp. primarily operates as a cloud communications company in the United States, Canada, the United Kingdom, the European Union, and Asia. It operates in two segments, Vonage Communications Platform and Consumer. The Vonage Communications Platform segment offers programmable, embeddable, and customizable application program interfaces that enable software developers to build communications capabilities, such as messaging and voice calling within their applications; and Vonage Contact Center, a cloud contact center solution.

Featured Articles

Institutional Ownership by Quarter for Vonage (NASDAQ:VG)

Receive News & Ratings for Vonage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vonage and related companies with MarketBeat.com's FREE daily email newsletter.