Ooma, Inc. (NYSE:OOMA) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its stake in shares of Ooma, Inc. (NYSE:OOMA) by 98.1% during the fourth quarter, Holdings Channel reports. The fund owned 47,109 shares of the technology company’s stock after purchasing an additional 23,331 shares during the quarter. Mackenzie Financial Corp’s holdings in Ooma were worth $662,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Quantbot Technologies LP purchased a new stake in Ooma in the 4th quarter valued at about $92,000. EntryPoint Capital LLC purchased a new stake in Ooma in the 4th quarter valued at about $153,000. Oxford Asset Management LLP purchased a new stake in Ooma in the 4th quarter valued at about $168,000. SG Americas Securities LLC grew its holdings in Ooma by 26.4% in the 4th quarter. SG Americas Securities LLC now owns 12,768 shares of the technology company’s stock valued at $180,000 after buying an additional 2,663 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Ooma in the 4th quarter valued at about $186,000. Institutional investors and hedge funds own 80.42% of the company’s stock.

Ooma Price Performance

Shares of NYSE OOMA opened at $13.08 on Tuesday. Ooma, Inc. has a twelve month low of $7.83 and a twelve month high of $17.00. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $360.36 million, a price-to-earnings ratio of -35.34 and a beta of 1.21. The business has a 50 day simple moving average of $12.72 and a 200-day simple moving average of $13.78.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Lake Street Capital lowered their price target on Ooma from $18.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Benchmark lifted their price objective on Ooma from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ooma presently has a consensus rating of “Buy” and a consensus price target of $17.63.

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.