Monashee Investment Management adds Vonage Holdings Corp. (VG) to its portfolio

Vonage Holdings Corp. (VG) : Monashee Investment Management added new position in Vonage Holdings Corp. during the most recent quarter end. The investment management firm now holds 95,000 shares of Vonage Holdings Corp. which is valued at $579,500 , the company said in a statement filed on Aug 2, 2016 with the SEC.Vonage Holdings Corp. makes up approximately 0.89% of Monashee Investment Management’s portfolio.

Other Hedge Funds, Including , Dupont Capital Management Corp added VG to its portfolio by purchasing 157,635 company shares during the most recent quarter which is valued at $961,574. Vonage Holdings Corp. makes up approx 0.02% of Dupont Capital Management Corp’s portfolio. Proficio Capital Partners added VG to its portfolio by purchasing 1,000 company shares during the most recent quarter which is valued at $5,930.Acadian Asset Management reduced its stake in VG by selling 104,531 shares or 15.05% in the most recent quarter. The Hedge Fund company now holds 590,093 shares of VG which is valued at $3,457,945. Vonage Holdings Corp. makes up approx 0.02% of Acadian Asset Management’s portfolio.

Vonage Holdings Corp. closed down -0.2 points or -3.44% at $5.62 with 23,41,277 shares getting traded on Monday. Post opening the session at $5.79, the shares hit an intraday low of $5.55 and an intraday high of $5.8 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Vonage Holdings Corp. reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.07. The company had revenue of $233.70 million for the quarter, compared to analysts expectations of $226.80 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.

Many Wall Street Analysts have commented on Vonage Holdings Corp.. Company shares were Reiterated by Dougherty & Company on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $6 .Company shares were Reiterated by Needham on Jun 28, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $6 .Vonage Holdings Corp. was Upgraded by Citigroup to ” Buy” on Jun 14, 2016.

Vonage Holdings Corp. is a provider of telecommunications and unified communications-as-a-service (UCaaS) solutions connecting people through cloud-connected devices around the world. The Company offers a scalable session initiation protocol (SIP)-based Voice over Internet Protocol (VoIP) network. Through this technology it offers voice and messaging services and other features around the world on various devices. This platform enables a user via a single identity either a number or user name to access and utilize services and features by being connected to the Internet over third generation (3G) Long-Term Evolution (LTE) cable or Digital Subscriber Line (DSL) broadband networks. The Company has operations in the United States the United Kingdom Brazil Israel and Canada. Its brand BasicTalk is a home phone service offering unlimited calling throughout the United States. It is focused on providing UCaaS solutions to domestic consumers and small and medium businesses.

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