Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Ooma, Inc. (NYSE:OOMA)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Ooma, Inc. (NYSE:OOMA) by 69.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 163,212 shares of the technology company’s stock after acquiring an additional 66,678 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.61% of Ooma worth $1,859,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Gladius Capital Management LP acquired a new stake in shares of Ooma in the third quarter worth $165,000. Bard Associates Inc. acquired a new stake in Ooma in the 3rd quarter valued at $232,000. Perkins Capital Management Inc. raised its position in Ooma by 8.6% in the third quarter. Perkins Capital Management Inc. now owns 168,100 shares of the technology company’s stock valued at $1,915,000 after purchasing an additional 13,300 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of Ooma during the third quarter worth about $229,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Ooma in the third quarter valued at about $115,000. 80.42% of the stock is currently owned by hedge funds and other institutional investors.

Ooma Trading Up 1.3 %

OOMA opened at $14.40 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.83. The stock has a market capitalization of $385.92 million, a PE ratio of -75.79 and a beta of 0.92. Ooma, Inc. has a 12-month low of $6.50 and a 12-month high of $14.60. The firm’s fifty day moving average price is $12.18 and its 200 day moving average price is $10.19.

Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, August 27th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. Ooma had a negative net margin of 2.04% and a negative return on equity of 2.22%. The company had revenue of $64.13 million for the quarter, compared to the consensus estimate of $62.72 million. As a group, research analysts expect that Ooma, Inc. will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on OOMA shares. JMP Securities reissued a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. B. Riley lifted their price target on shares of Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Ooma presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.75.

Ooma Company Profile

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.