PenderFund Capital Management Ltd. Reduces Stake in Sangoma Technologies Corporation $SANG

Key Points

• PenderFund Capital Management Ltd. sold 67,100 shares of Sangoma Technologies Corporation in the 1st quarter, reducing its stake by 1.9% to approximately 3.48 million shares.
• Several institutional investors increased their holdings in Sangoma, with Intact Investment Management Inc. boosting its stake by 99.4% during the same period.
• Sangoma Technologies received a "strong-buy" rating from Stifel Canada, with a consensus price target of $11.00, indicating positive expectations from analysts.

PenderFund Capital Management Ltd. trimmed its holdings in shares of Sangoma Technologies Corporation (NASDAQ:SANG - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,481,633 shares of the company's stock after selling 67,100 shares during the quarter. Sangoma Technologies accounts for about 0.0% of PenderFund Capital Management Ltd.'s portfolio, making the stock its 22nd largest position. PenderFund Capital Management Ltd. owned approximately 10.35% of Sangoma Technologies worth $15,493,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Sangoma Technologies by 198.4% in the fourth quarter. Bank of America Corp DE now owns 18,200 shares of the company's stock worth $130,000 after acquiring an additional 12,100 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Sangoma Technologies during the fourth quarter valued at about $86,000. Ewing Morris & Co. Investment Partners Ltd. purchased a new position in shares of Sangoma Technologies in the 4th quarter valued at approximately $3,420,000. Intact Investment Management Inc. boosted its stake in Sangoma Technologies by 99.4% in the 1st quarter. Intact Investment Management Inc. now owns 551,525 shares of the company's stock worth $2,488,000 after purchasing an additional 274,925 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Sangoma Technologies by 17.5% in the 1st quarter. National Bank of Canada FI now owns 87,982 shares of the company's stock worth $388,000 after purchasing an additional 13,127 shares in the last quarter. 39.65% of the stock is owned by institutional investors and hedge funds.

Sangoma Technologies Stock Performance

Sangoma Technologies stock traded down $0.07 during mid-day trading on Thursday, reaching $5.44. 859 shares of the company traded hands, compared to its average volume of 6,433. The firm's fifty day moving average is $5.86 and its two-hundred day moving average is $5.48. The company has a market capitalization of $180.83 million, a price-to-earnings ratio of -25.90 and a beta of 1.38. 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 debt-to-equity ratio of 0.16, a current ratio of 0.87 and a quick ratio of 0.69.

About Sangoma Technologies

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.