Ewing Morris & Co. Investment Partners Ltd. Buys New Stake in Sangoma Technologies Co. (NASDAQ:SANG)

Ewing Morris & Co. Investment Partners Ltd. bought a new position in Sangoma Technologies Co. (NASDAQ:SANG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 479,004 shares of the company's stock, valued at approximately $3,420,000. Sangoma Technologies makes up about 1.3% of Ewing Morris & Co. Investment Partners Ltd.'s investment portfolio, making the stock its 20th biggest position. Ewing Morris & Co. Investment Partners Ltd. owned 1.44% of Sangoma Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alberta Investment Management Corp grew its position in Sangoma Technologies by 11.9% during the 4th quarter. Alberta Investment Management Corp now owns 1,204,274 shares of the company's stock worth $8,373,000 after purchasing an additional 127,808 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in Sangoma Technologies by 1.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 472,027 shares of the company's stock valued at $3,232,000 after purchasing an additional 5,558 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Sangoma Technologies by 47.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 215,533 shares of the company's stock valued at $1,497,000 after buying an additional 69,700 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Sangoma Technologies by 1,171.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 142,879 shares of the company's stock valued at $993,000 after buying an additional 131,638 shares during the period. Finally, Bard Associates Inc. raised its position in Sangoma Technologies by 2.3% during the fourth quarter. Bard Associates Inc. now owns 90,205 shares of the company's stock valued at $644,000 after buying an additional 2,044 shares during the period. 39.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, TD Securities dropped their price target on Sangoma Technologies from $14.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th.

Sangoma Technologies Stock Up 1.7%

Sangoma Technologies stock traded up $0.10 during trading hours on Wednesday, hitting $6.05. The company had a trading volume of 4,027 shares, compared to its average volume of 7,924. The firm has a market capitalization of $203.45 million, a P/E ratio of -28.81 and a beta of 1.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.63. The firm's fifty day moving average is $4.91 and its 200-day moving average is $5.97. Sangoma Technologies Co. has a fifty-two week low of $4.08 and a fifty-two week high of $7.99.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Sangoma Technologies had a negative net margin of 2.81% and a negative return on equity of 2.61%. The company had revenue of $58.07 million for the quarter, compared to analyst estimates of $58.92 million. On average, research analysts forecast that Sangoma Technologies Co. will post -0.18 earnings per share for the current year.

Sangoma Technologies Profile

Sangoma Technologies Corporation develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications worldwide. The company offers Switchvox, a voice over internet protocol phone system; Switchvox Cloud, a unified communications solution, as well as provides cloud communication solutions.