Mackenzie Financial Corp Acquires Shares of 24,015 Ooma, Inc. (NYSE:OOMA)

Mackenzie Financial Corp acquired a new stake in Ooma, Inc. (NYSE:OOMA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,015 shares of the technology company’s stock, valued at approximately $238,000. Mackenzie Financial Corp owned 0.09% of Ooma as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in OOMA. Boston Partners increased its stake in shares of Ooma by 382.5% during the first quarter. Boston Partners now owns 463,079 shares of the technology company’s stock worth $3,940,000 after acquiring an additional 367,099 shares during the period. Russell Investments Group Ltd. boosted its holdings in Ooma by 37.4% during the first quarter. Russell Investments Group Ltd. now owns 579,342 shares of the technology company’s stock worth $4,942,000 after buying an additional 157,569 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Ooma by 40.4% during the second quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock worth $5,314,000 after buying an additional 154,117 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Ooma by 64.8% during the second quarter. Assenagon Asset Management S.A. now owns 193,645 shares of the technology company’s stock worth $1,923,000 after buying an additional 76,161 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Ooma by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock worth $10,802,000 after buying an additional 68,430 shares in the last quarter. 80.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OOMA. Lake Street Capital began coverage on shares of Ooma in a research report on Monday, June 17th. They issued a “buy” rating and a $14.00 price target on the stock. JMP Securities restated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Ooma Stock Performance

Ooma stock opened at $11.04 on Tuesday. Ooma, Inc. has a 12-month low of $6.50 and a 12-month high of $13.09. The company has a market capitalization of $295.87 million, a price-to-earnings ratio of -110.40 and a beta of 0.93. 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 firm’s fifty day moving average price is $10.10 and its 200 day moving average price is $8.99.

Ooma (NYSE:OOMA) last announced its quarterly earnings data on Tuesday, August 27th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $62.72 million. On average, research analysts forecast that Ooma, Inc. will post -0.1 EPS for the current fiscal year.

About Ooma

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.