Intact Investment Management Inc. Has $2.49 Million Position in Sangoma Technologies Corporation (NASDAQ:SANG)

Intact Investment Management Inc. increased its stake in Sangoma Technologies Corporation (NASDAQ:SANG - Free Report) by 99.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 551,525 shares of the company's stock after purchasing an additional 274,925 shares during the quarter. Intact Investment Management Inc. owned approximately 1.64% of Sangoma Technologies worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of Sangoma Technologies in the fourth quarter worth about $3,420,000. Arrowstreet Capital Limited Partnership boosted its stake in Sangoma Technologies by 1,171.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 142,879 shares of the company's stock worth $993,000 after purchasing an additional 131,638 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Sangoma Technologies by 47.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 215,533 shares of the company's stock worth $1,497,000 after purchasing an additional 69,700 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sangoma Technologies by 375.6% during the 4th 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. Finally, Citadel Advisors LLC acquired a new stake in Sangoma Technologies during the 4th quarter valued at $86,000. Institutional investors and hedge funds own 39.65% of the company's stock.

Sangoma Technologies Stock Up 1.5%

NASDAQ:SANG traded up $0.09 during mid-day trading on Wednesday, reaching $5.79. The stock had a trading volume of 921 shares, compared to its average volume of 7,662. The business's 50 day moving average is $5.61 and its 200 day moving average is $5.86. 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 current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.16.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.03). The company had revenue of $58.07 million during the quarter, compared to analysts' expectations of $58.92 million. Sangoma Technologies had a negative return on equity of 2.61% and a negative net margin of 2.91%. As a group, equities research analysts anticipate that Sangoma Technologies Corporation will post -0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Securities decreased 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. Stifel Canada raised shares of Sangoma Technologies to a "strong-buy" rating in a research note on Monday, May 12th.

Sangoma Technologies Company 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.