Jafra Capital Management LP boosted its position in Ribbon Communications Inc (NASDAQ:RBBN) by 50.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,000 shares of the communications equipment provider’s stock after purchasing an additional 100,000 shares during the period. Jafra Capital Management LP owned about 0.29% of Ribbon Communications worth $2,136,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RBBN. Rhumbline Advisers increased its position in Ribbon Communications by 17.0% during the second quarter. Rhumbline Advisers now owns 54,434 shares of the communications equipment provider’s stock worth $388,000 after buying an additional 7,912 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Ribbon Communications by 4.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 230,622 shares of the communications equipment provider’s stock worth $1,177,000 after buying an additional 10,122 shares in the last quarter. Swiss National Bank increased its position in Ribbon Communications by 13.1% during the first quarter. Swiss National Bank now owns 91,574 shares of the communications equipment provider’s stock worth $467,000 after buying an additional 10,600 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Ribbon Communications by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,193,905 shares of the communications equipment provider’s stock worth $16,289,000 after buying an additional 14,570 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Ribbon Communications during the first quarter worth $116,000. 80.53% of the stock is owned by hedge funds and other institutional investors.
Shares of RBBN stock traded down $0.19 during mid-day trading on Friday, hitting $6.51. 147,867 shares of the company’s stock were exchanged, compared to its average volume of 344,080. Ribbon Communications Inc has a fifty-two week low of $4.97 and a fifty-two week high of $9.05. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $710.43 million, a price-to-earnings ratio of 93.00, a price-to-earnings-growth ratio of 1.54 and a beta of 1.60.
Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Tuesday, July 31st. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.12. Ribbon Communications had a positive return on equity of 5.69% and a negative net margin of 16.08%. The business had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $134.79 million. The company’s revenue for the quarter was up 158.9% compared to the same quarter last year. As a group, analysts anticipate that Ribbon Communications Inc will post 0.37 earnings per share for the current fiscal year.
RBBN has been the subject of several recent research reports. BidaskClub raised Ribbon Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 27th. Cowen raised Ribbon Communications from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 1st. William Blair reissued a “buy” rating on shares of Ribbon Communications in a research report on Thursday, June 14th. Zacks Investment Research downgraded Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Finally, ValuEngine upgraded Ribbon Communications from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $8.25.
Ribbon Communications Company Profile
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.
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