Wellington Management Group LLP Raises Stock Position in Voyager Technologies, Inc. $VOYG

Key Points

• Wellington Management increased its Voyager Technologies stake by 39.3% in the second quarter, adding 650,531 shares to own 2.31 million shares, or about 4.17% of the company.
• Voyager reported quarterly revenue of $52.75 million, up 15.4% year over year, and an adjusted loss of $0.70 per share that beat estimates. However, the company remained unprofitable, with a negative net margin of 78.61%.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $45.20, though President Matthew Kuta sold roughly $8.6 million in shares under a pre-arranged trading plan.

Wellington Management Group LLP raised its stake in shares of Voyager Technologies, Inc. (NYSE:VOYG - Free Report) by 39.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,307,088 shares of the company's stock after buying an additional 650,531 shares during the period. Wellington Management Group LLP owned about 4.17% of Voyager Technologies worth $74,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of Voyager Technologies in the second quarter worth $40,000. New York State Common Retirement Fund purchased a new stake in Voyager Technologies during the second quarter valued at $146,000. Squarepoint Ops LLC bought a new position in Voyager Technologies in the second quarter valued at about $7,501,000. Alliancebernstein L.P. purchased a new position in Voyager Technologies in the second quarter worth about $24,720,000. Finally, Raymond James Financial Inc. purchased a new position in Voyager Technologies in the second quarter worth about $105,000.

Voyager Technologies Price Performance

Shares of NYSE:VOYG opened at $33.33 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.80 and a quick ratio of 3.72. Voyager Technologies, Inc. has a 1-year low of $17.41 and a 1-year high of $52.40. The company has a market capitalization of $1.94 billion, a P/E ratio of -14.24 and a beta of 4.39. The firm's 50 day simple moving average is $32.88 and its two-hundred day simple moving average is $32.46.

Voyager Technologies (NYSE:VOYG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.01) by $0.31. The firm had revenue of $52.75 million during the quarter. Voyager Technologies had a negative net margin of 78.61% and a negative return on equity of 27.31%. The business's revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the company earned ($1.23) earnings per share. Research analysts expect that Voyager Technologies, Inc. will post -3.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Voyager Technologies news, President Matthew James Kuta sold 199,807 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $42.97, for a total value of $8,585,706.79. Following the completion of the sale, the president owned 187,758 shares in the company, valued at approximately $8,067,961.26. This represents a 51.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 27.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on VOYG shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 price target on shares of Voyager Technologies in a research report on Sunday, August 9th. Morgan Stanley restated an "underweight" rating and set a $37.00 target price on shares of Voyager Technologies in a research report on Wednesday, August 5th. Wedbush began coverage on shares of Voyager Technologies in a report on Wednesday, July 1st. They set an "outperform" rating and a $46.00 target price for the company. Weiss Ratings upgraded shares of Voyager Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, June 26th. Finally, Citigroup boosted their price objective on shares of Voyager Technologies from $44.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.20.

Voyager Technologies Profile

We are an innovation-driven defense technology and space solutions company. Our company was purpose-built to address issues at the forefront of defense, national security and space industries and we have organized our business to reflect this goal. We strive to solve complex challenges to fortify national security, protect critical assets and unlock new frontiers for human progress and economic development. We are committed to developing and delivering an array of transformative, mission-critical solutions to customers enabled by our advanced technology, analytics and space infrastructure capabilities.

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