Royce & Associates LP Raises Stake in Ribbon Communications Inc. (NASDAQ:RBBN)

Royce & Associates LP increased its stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 18.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,536,278 shares of the communications equipment provider's stock after acquiring an additional 386,518 shares during the period. Royce & Associates LP owned about 1.45% of Ribbon Communications worth $8,243,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of 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 worth $1,640,000 after acquiring an additional 188,077 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Ribbon Communications by 19.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 129,984 shares of the communications equipment provider's stock worth $422,000 after purchasing an additional 20,826 shares during the period. SG Americas Securities LLC raised its position in Ribbon Communications by 81.3% in the 3rd quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider's stock worth $113,000 after purchasing an additional 15,604 shares during the period. Sanctuary Advisors LLC bought a new stake in Ribbon Communications in the second quarter worth $132,000. Finally, Algert Global LLC boosted its position in Ribbon Communications by 9.5% during the second quarter. Algert Global LLC now owns 228,327 shares of the communications equipment provider's stock valued at $751,000 after buying an additional 19,775 shares during the period. Institutional investors own 70.92% of the company's stock.

Ribbon Communications Trading Down 1.5 %

Shares of RBBN stock traded down $0.06 during mid-day trading on Monday, reaching $3.83. The stock had a trading volume of 188,316 shares, compared to its average volume of 363,783. The firm has a market capitalization of $671.71 million, a PE ratio of -12.19 and a beta of 1.08. The stock's 50-day moving average price is $3.41 and its two-hundred day moving average price is $3.29. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. Ribbon Communications Inc. has a 52-week low of $2.02 and a 52-week high of $4.31.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $210.00 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. Equities analysts expect that Ribbon Communications Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reissued a "buy" rating and issued a $5.00 target price on shares of Ribbon Communications in a research note on Wednesday, September 25th.

Ribbon Communications Company 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.