88,473 Shares in Ribbon Communications Inc. (NASDAQ:RBBN) Acquired by Bailard Inc.

Bailard Inc. acquired a new stake in Ribbon Communications Inc. (NASDAQ:RBBN) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 88,473 shares of the communications equipment provider’s stock, valued at approximately $257,000.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in shares of Ribbon Communications in the third quarter worth $35,000. NewEdge Wealth LLC purchased a new position in shares of Ribbon Communications in the fourth quarter valued at about $40,000. Caxton Associates LP bought a new position in shares of Ribbon Communications during the third quarter valued at about $41,000. Qtron Investments LLC boosted its holdings in shares of Ribbon Communications by 64.1% during the third quarter. Qtron Investments LLC now owns 17,986 shares of the communications equipment provider’s stock worth $48,000 after purchasing an additional 7,025 shares during the period. Finally, New York State Common Retirement Fund grew its stake in shares of Ribbon Communications by 22.0% in the third quarter. New York State Common Retirement Fund now owns 39,646 shares of the communications equipment provider’s stock worth $106,000 after purchasing an additional 7,146 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Price Performance

Shares of Ribbon Communications stock opened at $3.13 on Monday. Ribbon Communications Inc. has a 1 year low of $1.78 and a 1 year high of $3.65. The company has a 50-day moving average of $2.97 and a 200 day moving average of $2.69. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates 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 7.11% and a positive return on equity of 4.26%. As a group, analysts anticipate that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RBBN. StockNews.com upgraded Ribbon Communications from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. B. Riley lifted their target price on shares of Ribbon Communications from $6.00 to $6.50 and gave the company a “buy” rating in a research note on Thursday.

Insider Activity

In related 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 value of $74,048.76. Following the transaction, the executive vice president now owns 101,291 shares in the company, valued at approximately $312,989.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Dan Redington sold 23,964 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $3.09, for a total value of $74,048.76. Following the completion of the transaction, the executive vice president now directly owns 101,291 shares in the company, valued at approximately $312,989.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the transaction, the director now directly owns 590,175 shares in the company, valued at approximately $1,705,605.75. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 103,000 shares of company stock worth $297,720 and sold 66,000 shares worth $205,119. Corporate insiders own 2.10% of the company’s stock.

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.