Ewing Morris & Co. Investment Partners Ltd. Makes New $3.42 Million Investment in Sangoma Technologies Co. (NASDAQ:SANG)

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

A number of other hedge funds have also made changes to their positions in the stock. Citadel Advisors LLC bought a new position in shares of Sangoma Technologies in the fourth quarter valued at approximately $86,000. Bank of America Corp DE raised its position in shares of Sangoma Technologies by 198.4% in the fourth quarter. Bank of America Corp DE now owns 18,200 shares of the company's stock valued at $130,000 after purchasing an additional 12,100 shares during the period. JPMorgan Chase & Co. raised its position in shares of Sangoma Technologies by 375.6% in the fourth quarter. JPMorgan Chase & Co. now owns 19,500 shares of the company's stock valued at $135,000 after purchasing an additional 15,400 shares during the period. National Bank of Canada FI raised its position in shares of Sangoma Technologies by 3.6% in the fourth quarter. National Bank of Canada FI now owns 74,855 shares of the company's stock valued at $521,000 after purchasing an additional 2,596 shares during the period. Finally, Bard Associates Inc. raised its position in shares of Sangoma Technologies by 2.3% in the fourth quarter. Bard Associates Inc. now owns 90,205 shares of the company's stock valued at $644,000 after purchasing an additional 2,044 shares during the period. 39.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, TD Securities lowered their price objective on shares of Sangoma Technologies from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th.

Sangoma Technologies Stock Performance

SANG traded up $0.05 during trading on Friday, reaching $5.90. 3,674 shares of the company's stock were exchanged, compared to its average volume of 7,930. Sangoma Technologies Co. has a fifty-two week low of $4.08 and a fifty-two week high of $7.99. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $4.88 and a 200 day moving average price of $5.97. The company has a market capitalization of $198.41 million, a P/E ratio of -28.09 and a beta of 1.41.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, meeting 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 the consensus estimate of $58.92 million. As a group, analysts predict that Sangoma Technologies Co. will post -0.18 earnings per share for the current fiscal 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.