Breaking Short Interest: What’s Next for Vonage Holdings Corporation (NYSE:VG) After Having More Shares Shorted?

November 18, 2016 - By Ruchi Gupta   ·   0 Comments

Breaking Short Interest: What's Next for Vonage Holdings Corporation (NYSE:VG) After Having More Shares Shorted?

The stock of Vonage Holdings Corporation (NYSE:VG) registered an increase of 6.44% in short interest. VG’s total short interest was 8.72M shares in November as published by FINRA. Its up 6.44% from 8.19M shares, reported previously. With 2.67 million shares average volume, it will take short sellers 3 days to cover their VG’s short positions. The short interest to Vonage Holdings Corporation’s float is 4.9%. About 1.24 million shares traded hands. Vonage Holdings Corp. (NYSE:VG) has risen 40.13% since April 18, 2016 and is uptrending. It has outperformed by 35.70% the S&P500.

Vonage Holdings Corp. is a provider of cloud communications services for businesses and consumers, and consumer and business communication solutions across multiple devices. The company has a market cap of $1.46 billion. For business services customers, the Company provides cloud unified communications as a service solutions, consisting of integrated voice, text, video, data, collaboration and mobile applications over its scalable session initiation protocol (SIP) voice over Internet protocol (VoIP) network. It has a 69.32 P/E ratio. It serves a range of business markets, including the small and medium business (SMB), mid-market and enterprise divisions.

Insitutional Activity: The institutional sentiment decreased to 1.21 in Q2 2016. Its down 0.10, from 1.31 in 2016Q1. The ratio dived, as 28 funds sold all Vonage Holdings Corp. shares owned while 50 reduced positions. 30 funds bought stakes while 72 increased positions. They now own 155.37 million shares or 6.90% less from 166.89 million shares in 2016Q1.
State Street accumulated 3.47M shares or 0% of the stock. Invesco Ltd reported 152,732 shares or 0% of all its holdings. Victory Cap Mngmt has 0% invested in the company for 11,833 shares. The Massachusetts-based Bain Venture Invsts has invested 7.85% in Vonage Holdings Corp. (NYSE:VG). Swiss Bank last reported 324,300 shares in the company. State Board Of Administration Of Florida Retirement System holds 0% or 75,064 shares in its portfolio. Rice Hall James & Assocs Ltd Llc last reported 0.19% of its portfolio in the stock. Citadel Advsr Ltd accumulated 0% or 419,423 shares. Moreover, Campbell & Investment Adviser Lc has 0.43% invested in Vonage Holdings Corp. (NYSE:VG) for 13,862 shares. Teachers Retirement Sys Of The State Of Kentucky holds 0.01% or 90,530 shares in its portfolio. Cooper Creek Prtn Ltd, a New York-based fund reported 804,677 shares. Grantham Mayo Van Otterloo & Company Limited Liability Corp holds 0.01% or 221,075 shares in its portfolio. Matarin Capital Mgmt Limited Liability Corporation, a Connecticut-based fund reported 452,412 shares. Morgan Stanley accumulated 109,067 shares or 0% of the stock. Woodmont Counsel Ltd Liability holds 81,395 shares or 0.15% of its portfolio.

Insider Transactions: Since June 14, 2016, the stock had 0 buys, and 9 insider sales for $19.46 million net activity. 1.00M shares were sold by Citron Jeffrey A, worth $6.08 million. Graham McGonigal had sold 64,248 shares worth $385,488. 11,734 Vonage Holdings Corp. (NYSE:VG) shares with value of $73,408 were sold by JAVAID OMAR MUHAMMAD. Shares for $1.89M were sold by Rogers Kurt.

Vonage Holdings Corp. (NYSE:VG) Ratings Coverage

Out of 8 analysts covering Vonage (NYSE:VG), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. Vonage has been the topic of 13 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Summit Research on Tuesday, March 8. The company was initiated on Monday, August 10 by Canaccord Genuity. Oppenheimer maintained Vonage Holdings Corp. (NYSE:VG) on Thursday, November 5 with “Outperform” rating. The firm has “Buy” rating given on Thursday, November 5 by Canaccord Genuity. The firm has “Outperform” rating by Robert W. Baird given on Wednesday, September 14. The rating was maintained by Northland Capital on Friday, July 31 with “Outperform”. Dougherty & Company maintained Vonage Holdings Corp. (NYSE:VG) rating on Friday, February 12. Dougherty & Company has “Buy” rating and $7 price target. Needham maintained Vonage Holdings Corp. (NYSE:VG) on Monday, September 26 with “Buy” rating. Needham maintained Vonage Holdings Corp. (NYSE:VG) on Tuesday, June 28 with “Buy” rating. The stock of Vonage Holdings Corp. (NYSE:VG) has “Buy” rating given on Monday, September 12 by Dougherty & Company.

VG Company Profile

Vonage Holdings Corp., incorporated on May 17, 2000, is a well-known provider of cloud communications services for businesses and consumers, and consumer and business communication solutions across multiple devices. For business services customers, the Company provides cloud 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) voice over Internet protocol (VoIP) network. The Firm serves a range of business markets, including the small and medium business (SMB), mid-market and enterprise divisions. Through its cloud middleware solution, gUnify, the Company provides clients the ability to integrate its cloud communications platform with various software as a service (SaaS) business applications, including Google for Work, Zendesk, Salesforce’s Sales Cloud, Clio and other customer relationship management (CRM) solutions.

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By Ruchi Gupta


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