Sangoma Technologies Corporation (NASDAQ:SANG) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. grew its holdings in Sangoma Technologies Corporation (NASDAQ:SANG - Free Report) by 99.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 551,525 shares of the company's stock after buying an additional 274,925 shares during the quarter. Intact Investment Management Inc. owned 1.64% of Sangoma Technologies worth $2,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SANG. Ewing Morris & Co. Investment Partners Ltd. purchased a new stake in shares of Sangoma Technologies in the fourth quarter valued at approximately $3,420,000. Arrowstreet Capital Limited Partnership increased its position in shares of Sangoma Technologies by 1,171.1% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Sangoma Technologies by 47.8% in 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 in the last quarter. JPMorgan Chase & Co. increased 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 buying an additional 15,400 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Sangoma Technologies in the fourth quarter valued at approximately $86,000. 39.65% of the stock is currently owned by hedge funds and other institutional investors.

Sangoma Technologies Price Performance

Shares of SANG traded up $0.13 during trading hours on Friday, hitting $5.81. 329 shares of the stock were exchanged, compared to its average volume of 7,713. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.69 and a current ratio of 0.87. Sangoma Technologies Corporation has a 12-month low of $4.08 and a 12-month high of $7.99. The company has a market cap of $193.12 million, a price-to-earnings ratio of -27.67 and a beta of 1.36. The stock's 50-day moving average price is $5.57 and its two-hundred day moving average price is $5.87.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last issued 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 return on equity of 2.61% and a negative net margin of 2.91%. The firm had revenue of $58.07 million during the quarter, compared to analysts' expectations of $58.92 million. Research analysts expect that Sangoma Technologies Corporation will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stifel Canada upgraded Sangoma Technologies to a "strong-buy" rating in a research report on Monday, May 12th. TD Securities cut their price objective on Sangoma Technologies from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th.

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.