Bailard Inc. purchased a new stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 75,400 shares of the communications equipment provider's stock, valued at approximately $314,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC bought a new stake in Ribbon Communications in the 3rd quarter valued at about $34,000. SG Americas Securities LLC lifted its position in Ribbon Communications by 14.7% in the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider's stock valued at $166,000 after purchasing an additional 5,122 shares during the last quarter. Rhumbline Advisers lifted its position in Ribbon Communications by 9.9% in the 4th quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider's stock valued at $648,000 after purchasing an additional 13,990 shares during the last quarter. Barclays PLC lifted its position in Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider's stock valued at $553,000 after purchasing an additional 102,969 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in Ribbon Communications in the 4th quarter valued at about $844,000. 70.92% of the stock is owned by institutional investors and hedge funds.
Ribbon Communications Price Performance
Shares of RBBN stock traded down $0.10 during midday trading on Friday, reaching $4.17. 548,340 shares of the company were exchanged, compared to its average volume of 387,987. Ribbon Communications Inc. has a 12 month low of $2.47 and a 12 month high of $5.38. The company has a market cap of $732.77 million, a P/E ratio of -13.03 and a beta of 1.23. The company's 50 day moving average price is $4.29 and its two-hundred day moving average price is $3.83. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42.
Ribbon Communications (NASDAQ:RBBN - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. On average, sell-side analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on RBBN shares. StockNews.com downgraded shares of Ribbon Communications from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. Northland Securities lifted their price objective on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Rosenblatt Securities reiterated a "buy" rating and issued a $5.50 price objective on shares of Ribbon Communications in a research report on Monday, December 30th. Finally, JMP Securities restated a "market outperform" rating and set a $6.00 price target on shares of Ribbon Communications in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $6.00.
Read Our Latest Research Report on RBBN
About Ribbon Communications
(
Free Report)
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.
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