Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Sangoma Technologies Corporation (NASDAQ:SANG - Free Report) by 33.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 286,833 shares of the company's stock after buying an additional 71,300 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.85% of Sangoma Technologies worth $1,294,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Intact Investment Management Inc. raised its stake in shares of Sangoma Technologies by 99.4% during the 1st quarter. Intact Investment Management Inc. now owns 551,525 shares of the company's stock worth $2,488,000 after buying an additional 274,925 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of Sangoma Technologies during the 4th quarter worth $3,420,000. TD Waterhouse Canada Inc. raised its stake in shares of Sangoma Technologies by 1.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 472,027 shares of the company's stock worth $3,232,000 after buying an additional 5,558 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Sangoma Technologies by 17.5% during the 1st quarter. National Bank of Canada FI now owns 87,982 shares of the company's stock worth $388,000 after buying an additional 13,127 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Sangoma Technologies by 375.6% during the 4th quarter. JPMorgan Chase & Co. now owns 19,500 shares of the company's stock worth $135,000 after buying an additional 15,400 shares during the last quarter. Institutional investors and hedge funds own 39.65% of the company's stock.
Sangoma Technologies Trading Down 2.3%
Shares of NASDAQ SANG traded down $0.1340 on Tuesday, reaching $5.6660. 4,943 shares of the company traded hands, compared to its average volume of 6,852. Sangoma Technologies Corporation has a fifty-two week low of $4.08 and a fifty-two week high of $7.99. The company has a 50 day moving average of $5.88 and a 200 day moving average of $5.54. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $188.34 million, a PE ratio of -26.98 and a beta of 1.37.
Wall Street Analyst Weigh In
SANG has been the subject of several research reports. TD Securities cut their price target on Sangoma Technologies from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Stifel Canada raised shares of Sangoma Technologies to a "strong-buy" rating in a research note on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and a consensus target price of $11.00.
Get Our Latest Report on SANG
Sangoma Technologies Profile
(
Free Report)
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.
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