Ribbon Communications Inc. (NASDAQ:RBBN) Position Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in Ribbon Communications Inc. (NASDAQ:RBBN) by 323.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,108 shares of the communications equipment provider’s stock after buying an additional 120,743 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Ribbon Communications worth $658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RBBN. State Street Corp grew its position in shares of Ribbon Communications by 0.4% in the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after acquiring an additional 7,963 shares in the last quarter. Barclays PLC lifted its stake in Ribbon Communications by 153.4% during the third quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after purchasing an additional 102,969 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ribbon Communications by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock worth $6,830,000 after purchasing an additional 27,999 shares during the period. SG Americas Securities LLC increased its stake in Ribbon Communications by 14.7% during the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock valued at $166,000 after purchasing an additional 5,122 shares during the last quarter. Finally, Inspire Investing LLC acquired a new stake in shares of Ribbon Communications during the fourth quarter worth $844,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RBBN. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.50 price objective on shares of Ribbon Communications in a research report on Monday, December 30th. JMP Securities restated a “market outperform” rating and issued a $6.00 target price on shares of Ribbon Communications in a research note on Thursday, February 13th. Finally, StockNews.com cut Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $6.00.

Ribbon Communications Trading Up 1.5 %

Ribbon Communications stock opened at $3.48 on Wednesday. Ribbon Communications Inc. has a 52-week low of $2.54 and a 52-week high of $5.38. 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 market capitalization of $612.25 million, a price-to-earnings ratio of -10.88 and a beta of 1.37. The firm has a 50-day moving average price of $4.05 and a two-hundred day moving average price of $3.96.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. Sell-side analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

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.