Alambic Investment Management L.P. Has $1.19 Million Stake in Ooma Inc (OOMA)

Alambic Investment Management L.P. lifted its holdings in shares of Ooma Inc (NYSE:OOMA) by 8.5% during the third quarter, Holdings Channel reports. The fund owned 71,933 shares of the technology company’s stock after purchasing an additional 5,665 shares during the quarter. Ooma accounts for 0.9% of Alambic Investment Management L.P.’s investment portfolio, making the stock its 17th largest holding. Alambic Investment Management L.P.’s holdings in Ooma were worth $1,194,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Engineers Gate Manager LP bought a new stake in Ooma in the second quarter valued at about $157,000. Bank of Montreal Can increased its holdings in Ooma by 7,344.6% in the third quarter. Bank of Montreal Can now owns 9,678 shares of the technology company’s stock valued at $160,000 after buying an additional 9,548 shares during the last quarter. Trexquant Investment LP bought a new stake in Ooma in the second quarter valued at about $173,000. Stone Ridge Asset Management LLC bought a new stake in Ooma in the third quarter valued at about $192,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Ooma by 13.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,257 shares of the technology company’s stock valued at $598,000 after buying an additional 5,157 shares during the last quarter. 76.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of OOMA stock opened at $13.70 on Friday. Ooma Inc has a 52 week low of $9.30 and a 52 week high of $17.50. The company has a market capitalization of $271.46 million, a price-to-earnings ratio of -19.86 and a beta of 0.97.

Ooma (NYSE:OOMA) last issued its earnings results on Tuesday, August 28th. The technology company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. Ooma had a negative return on equity of 35.06% and a negative net margin of 11.35%. The company had revenue of $31.68 million during the quarter, compared to the consensus estimate of $30.88 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. Ooma’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that Ooma Inc will post -0.75 EPS for the current year.

Several analysts recently weighed in on the company. B. Riley boosted their price objective on Ooma from $15.50 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. ValuEngine upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. Finally, Credit Suisse Group initiated coverage on Ooma in a research note on Friday, August 10th. They issued a “neutral” rating and a $13.00 target price for the company. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $15.50.

In other news, VP James A. Gustke sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $16.38, for a total transaction of $90,090.00. Following the completion of the transaction, the vice president now directly owns 138,275 shares in the company, valued at $2,264,944.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric B. Stang sold 11,064 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $14.21, for a total value of $157,219.44. Following the transaction, the chief executive officer now owns 327,500 shares of the company’s stock, valued at $4,653,775. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,346 shares of company stock valued at $900,023. 10.47% of the stock is currently owned by insiders.

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Ooma Profile

Ooma, Inc provides communications solutions and other connected services to small business, home, and mobile users in the United States and Canadian markets. The company's Ooma Office, a multi-user communications system comprise an on-premise appliance and Ooma Linx end-point device that wirelessly connects regular desktop telephones and fax machines to the user's high-speed Internet connection; and Ooma Office Mobile HD app, which allows users to make, receive, and transfer phone calls.

Further Reading: Float

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Institutional Ownership by Quarter for Ooma (NYSE:OOMA)

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