Arrowstreet Capital Limited Partnership Sells 100,314 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Arrowstreet Capital Limited Partnership lowered its holdings in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 589,756 shares of the communications equipment provider's stock after selling 100,314 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.34% of Ribbon Communications worth $2,453,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RBBN. Inspire Investing LLC purchased a new position in shares of Ribbon Communications in the 4th quarter worth about $844,000. Barclays PLC raised its position in Ribbon Communications by 153.4% in the third quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider's stock worth $553,000 after acquiring an additional 102,969 shares during the period. SG Americas Securities LLC boosted its stake in Ribbon Communications by 14.7% in the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider's stock valued at $166,000 after acquiring an additional 5,122 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Ribbon Communications by 9.9% during the 4th quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider's stock worth $648,000 after purchasing an additional 13,990 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Ribbon Communications by 0.4% in the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider's stock worth $6,171,000 after purchasing an additional 7,963 shares during the period. Institutional investors own 70.92% of the company's stock.

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Ribbon Communications Price Performance

RBBN traded up $0.13 during trading on Tuesday, reaching $3.64. 77,850 shares of the company were exchanged, compared to its average volume of 414,575. Ribbon Communications Inc. has a 12-month low of $2.47 and a 12-month high of $5.38. The company's 50-day moving average is $4.15 and its two-hundred day moving average is $3.95. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. The company has a market cap of $639.52 million, a price-to-earnings ratio of -11.36 and a beta of 1.37.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. Research analysts forecast that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RBBN shares. Northland Securities increased their price objective on Ribbon Communications from $5.50 to $6.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. StockNews.com lowered Ribbon Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, March 31st. Rosenblatt Securities restated a "buy" rating and issued a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. Finally, JMP Securities reiterated a "market outperform" rating and set a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ribbon Communications currently has an average rating of "Buy" and a consensus price target of $6.00.

Ribbon Communications Profile

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.