Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 62.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 675,265 shares of the communications equipment provider's stock after acquiring an additional 258,909 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.39% of Ribbon Communications worth $2,809,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of RBBN. Victory Capital Management Inc. lifted its position in Ribbon Communications by 59.4% during the third quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider's stock valued at $1,640,000 after acquiring an additional 188,077 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Ribbon Communications by 18.0% in the third quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider's stock worth $8,243,000 after buying an additional 386,518 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Ribbon Communications in the third quarter worth $34,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Ribbon Communications by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider's stock worth $2,479,000 after buying an additional 13,984 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Ribbon Communications by 0.4% in the third quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider's stock worth $6,171,000 after buying an additional 7,963 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.
Ribbon Communications Stock Performance
RBBN remained flat at $4.01 during midday trading on Friday. 671,372 shares of the company's stock traded hands, compared to its average volume of 392,057. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The stock has a market cap of $704.65 million, a P/E ratio of -12.53 and a beta of 1.23. Ribbon Communications Inc. has a fifty-two week low of $2.47 and a fifty-two week high of $5.38. The stock's 50-day moving average price is $4.27 and its 200 day moving average price is $3.86.
Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities research analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Northland Securities raised their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. StockNews.com raised shares of Ribbon Communications from a "buy" rating to a "strong-buy" rating in a report on Thursday, March 13th. JMP Securities reaffirmed a "market outperform" rating and issued a $6.00 price target on shares of Ribbon Communications in a report on Thursday, February 13th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $6.00.
Read Our Latest Research Report on Ribbon Communications
Ribbon Communications Profile
(
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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