Federated Hermes Inc. Sells 114,700 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Federated Hermes Inc. cut its holdings in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,474 shares of the communications equipment provider's stock after selling 114,700 shares during the period. Federated Hermes Inc. owned 0.18% of Ribbon Communications worth $1,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new stake in shares of Ribbon Communications during the fourth quarter valued at approximately $64,000. Inceptionr LLC bought a new stake in Ribbon Communications in the 4th quarter valued at $104,000. SG Americas Securities LLC lifted its stake 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 worth $166,000 after purchasing an additional 5,122 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Ribbon Communications by 24.6% during the 4th quarter. Wells Fargo & Company MN now owns 59,401 shares of the communications equipment provider's stock valued at $247,000 after purchasing an additional 11,715 shares during the last quarter. Finally, Bailard Inc. bought a new position in shares of Ribbon Communications during the 4th quarter valued at about $314,000. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Trading Up 1.4 %

RBBN stock traded up $0.05 during midday trading on Friday, reaching $3.58. 378,782 shares of the company traded hands, compared to its average volume of 415,649. The firm has a market capitalization of $629.84 million, a price-to-earnings ratio of -11.19 and a beta of 1.37. Ribbon Communications Inc. has a 52-week low of $2.47 and a 52-week high of $5.38. The business has a 50 day moving average of $4.10 and a 200-day moving average of $3.95. 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 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%. As a group, sell-side analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

RBBN has been the topic of several research reports. StockNews.com cut Ribbon Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, March 31st. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 price objective on shares of Ribbon Communications in a report 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 analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price 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.