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The Manufacturers Life Insurance Company Has $2.06 Million Stock Position in Sangoma Technologies Co. (NASDAQ:SANG)

Defense World ·  Feb 4, 2023 04:51

The Manufacturers Life Insurance Company trimmed its position in Sangoma Technologies Co. (NASDAQ:SANG – Get Rating) by 9.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,776 shares of the company's stock after selling 40,540 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.75% of Sangoma Technologies worth $2,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. National Bank of Canada FI lifted its position in shares of Sangoma Technologies by 7.6% in the second quarter. National Bank of Canada FI now owns 25,617 shares of the company's stock worth $206,000 after purchasing an additional 1,810 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Sangoma Technologies by 27.3% in the third quarter. Avantax Advisory Services Inc. now owns 15,348 shares of the company's stock worth $81,000 after purchasing an additional 3,295 shares in the last quarter. Bard Associates Inc. lifted its position in shares of Sangoma Technologies by 47.6% in the second quarter. Bard Associates Inc. now owns 16,828 shares of the company's stock worth $139,000 after purchasing an additional 5,425 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Sangoma Technologies by 10.3% in the first quarter. Royal Bank of Canada now owns 100,861 shares of the company's stock worth $1,438,000 after purchasing an additional 9,401 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of Sangoma Technologies in the first quarter worth approximately $303,000. 31.00% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SANG. TD Securities reduced their price target on shares of Sangoma Technologies from C$17.50 to C$16.50 in a research report on Monday, November 14th. Lake Street Capital cut their price objective on shares of Sangoma Technologies from $15.00 to $12.00 in a research report on Monday, November 14th.

Sangoma Technologies Price Performance

Shares of SANG opened at $4.79 on Friday. The firm has a market cap of $110.51 million, a PE ratio of -1.43 and a beta of 0.80. The firm's 50 day moving average price is $4.52 and its 200 day moving average price is $5.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.56 and a current ratio of 0.82. Sangoma Technologies Co. has a twelve month low of $3.67 and a twelve month high of $15.98.

Sangoma Technologies (NASDAQ:SANG – Get Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.10. Sangoma Technologies had a negative net margin of 46.82% and a negative return on equity of 5.54%. The firm had revenue of $64.05 million for the quarter, compared to analyst estimates of $65.36 million. As a group, research analysts expect that Sangoma Technologies Co. will post -0.23 EPS for the current fiscal year.

About Sangoma Technologies

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Sangoma Technologies Corp. engages in the provision of value-based Communications as a Service (CaaS) solutions for businesses. The firm's CaaS offerings include Unified Communications as a Service, Trunking as a Service, Contact Center as a Service, Communications Platform as a Service, Video Meetings as a Service, Collaboration as a Service, Desktop as a Service, and Access Control as a Service.

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