SG Americas Securities LLC Purchases 9,943 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

SG Americas Securities LLC lifted its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,197 shares of the communications equipment provider’s stock after purchasing an additional 9,943 shares during the period. SG Americas Securities LLC’s holdings in Ribbon Communications were worth $146,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Neuberger Berman Group LLC increased its stake in shares of Ribbon Communications by 284.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 13,570,773 shares of the communications equipment provider’s stock worth $30,155,000 after purchasing an additional 10,039,284 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in shares of Ribbon Communications by 6.8% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 7,495,400 shares of the communications equipment provider’s stock worth $20,088,000 after purchasing an additional 477,047 shares during the last quarter. BlackRock Inc. increased its stake in shares of Ribbon Communications by 18.0% during the 2nd quarter. BlackRock Inc. now owns 7,208,048 shares of the communications equipment provider’s stock worth $20,110,000 after purchasing an additional 1,098,904 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ribbon Communications by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,862,311 shares of the communications equipment provider’s stock worth $18,391,000 after purchasing an additional 35,132 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Ribbon Communications by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,552,971 shares of the communications equipment provider’s stock worth $12,702,000 after purchasing an additional 585,999 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Activity

In other news, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $2.89 per share, with a total value of $289,000.00. Following the completion of the purchase, the director now owns 590,175 shares in the company, valued at approximately $1,705,605.75. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Dan Redington sold 23,964 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $3.09, for a total transaction of $74,048.76. Following the completion of the transaction, the executive vice president now directly owns 101,291 shares of the company’s stock, valued at $312,989.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruns H. Grayson purchased 100,000 shares of Ribbon Communications stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $2.89 per share, for a total transaction of $289,000.00. Following the transaction, the director now directly owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 103,000 shares of company stock valued at $297,720 and sold 66,000 shares valued at $205,119. Insiders own 1.91% of the company’s stock.

Ribbon Communications Stock Performance

Ribbon Communications stock opened at $2.61 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $448.22 million, a PE ratio of -6.53 and a beta of 1.19. The firm has a fifty day simple moving average of $3.05 and a two-hundred day simple moving average of $2.68. Ribbon Communications Inc. has a twelve month low of $1.78 and a twelve month high of $3.65.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $226.40 million during the quarter, compared to the consensus estimate of $233.63 million. Ribbon Communications had a negative net margin of 8.01% and a positive return on equity of 3.53%. Research analysts expect that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Ribbon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th.

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.