P2 Capital Partners LLC Sells 404,900 Shares of Vonage Holdings Corp. (NASDAQ:VG)

P2 Capital Partners LLC lessened its stake in shares of Vonage Holdings Corp. (NASDAQ:VG) by 13.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,690,000 shares of the company’s stock after selling 404,900 shares during the period. Vonage accounts for 2.9% of P2 Capital Partners LLC’s portfolio, making the stock its 15th largest holding. P2 Capital Partners LLC owned 1.07% of Vonage worth $38,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Vonage by 67.7% in the second quarter. Royal Bank of Canada now owns 649,520 shares of the company’s stock worth $9,360,000 after acquiring an additional 262,130 shares during the last quarter. Cramer Rosenthal Mcglynn LLC boosted its stake in Vonage by 0.9% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,772,826 shares of the company’s stock worth $25,546,000 after buying an additional 16,554 shares in the last quarter. Amundi acquired a new stake in Vonage during the second quarter worth $920,000. Charles Schwab Investment Management Inc. boosted its stake in Vonage by 2.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,979,449 shares of the company’s stock worth $28,524,000 after buying an additional 54,799 shares in the last quarter. Finally, Jefferies Group LLC acquired a new stake in Vonage during the second quarter worth $2,164,000. Institutional investors and hedge funds own 93.75% of the company’s stock.

Shares of VG traded down $0.31 on Wednesday, hitting $15.67. The company’s stock had a trading volume of 12,678 shares, compared to its average volume of 2,452,502. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average price is $14.94 and its 200-day moving average price is $14.26. Vonage Holdings Corp. has a fifty-two week low of $10.13 and a fifty-two week high of $16.65. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -157.90, a P/E/G ratio of 15.24 and a beta of 0.72.

Vonage (NASDAQ:VG) last released its earnings results on Thursday, August 5th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm had revenue of $351.47 million for the quarter, compared to analysts’ expectations of $334.85 million. Vonage had a positive return on equity of 7.85% and a negative net margin of 1.84%. As a group, equities analysts predict that Vonage Holdings Corp. will post 0.19 earnings per share for the current fiscal year.

In other news, insider Vinod Lala sold 43,109 shares of the stock in a transaction on Monday, September 13th. The stock was sold at an average price of $16.25, for a total transaction of $700,521.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Citron sold 18,100 shares of the stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $15.00, for a total value of $271,500.00. Following the sale, the director now directly owns 8,441,098 shares in the company, valued at $126,616,470. The disclosure for this sale can be found here. In the last quarter, insiders have sold 193,109 shares of company stock worth $2,979,186. Company insiders own 4.72% of the company’s stock.

A number of research analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Vonage in a report on Tuesday, August 31st. Zacks Investment Research cut Vonage from a “hold” rating to a “sell” rating in a report on Friday, October 8th. Colliers Securities reissued a “buy” rating and set a $20.00 price objective on shares of Vonage in a report on Thursday, September 2nd. KeyCorp lifted their price objective on Vonage from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, July 22nd. Finally, Morgan Stanley lifted their price objective on Vonage from $13.50 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, September 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Vonage presently has a consensus rating of “Hold” and an average price target of $16.67.

Vonage Profile

Vonage Holdings Corp. engages in the provision of communication services through cloud-connected devices. It operates through the Business and Consumer segments. The Business segment provides cloud-based Unified Communications as a Service (UCaaS) solutions, which comprises of integrated voice, text, video, data, collaboration, and mobile applications over its scalable Session Initiation Protocol based Voice over Internet Protocol network.

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Institutional Ownership by Quarter for Vonage (NASDAQ:VG)

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