Jacobs Levy Equity Management Inc. Has $1.33 Million Stock Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Jacobs Levy Equity Management Inc. lowered its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 46.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 409,376 shares of the communications equipment provider's stock after selling 350,847 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.23% of Ribbon Communications worth $1,330,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RBBN. Paradigm Capital Management Inc. NY raised its stake in shares of Ribbon Communications by 4.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 10,546,400 shares of the communications equipment provider's stock valued at $34,698,000 after acquiring an additional 420,000 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Ribbon Communications by 18.0% during the third quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider's stock worth $8,243,000 after purchasing an additional 386,518 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ribbon Communications by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider's stock worth $19,012,000 after purchasing an additional 270,972 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Ribbon Communications by 59.4% in 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 buying an additional 188,077 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Ribbon Communications in the second quarter valued at about $247,000. 70.92% of the stock is owned by institutional investors.

Ribbon Communications Stock Performance

Shares of RBBN remained flat at $3.90 during trading hours on Monday. The stock had a trading volume of 276,733 shares, compared to its average volume of 364,564. Ribbon Communications Inc. has a twelve month low of $2.15 and a twelve month high of $4.31. 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 firm has a fifty day simple moving average of $3.66 and a two-hundred day simple moving average of $3.36.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $210.00 million during the quarter, compared to the consensus estimate of $212.17 million. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. As a group, research analysts predict that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reissued a "buy" rating and set a $5.00 price objective on shares of Ribbon Communications in a report on Wednesday, September 25th.

About Ribbon Communications

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.