Legal & General Group Plc Has $425,000 Stake in Ribbon Communications Inc. (NASDAQ:RBBN)

Legal & General Group Plc grew its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 44.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 102,056 shares of the communications equipment provider’s stock after buying an additional 31,641 shares during the period. Legal & General Group Plc owned approximately 0.06% of Ribbon Communications worth $425,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Polymer Capital Management US LLC acquired a new position in Ribbon Communications in the 4th quarter valued at approximately $55,000. KLP Kapitalforvaltning AS acquired a new position in shares of Ribbon Communications in the fourth quarter valued at $64,000. Inceptionr LLC bought a new position in Ribbon Communications in the fourth quarter worth $104,000. SG Americas Securities LLC boosted 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 worth $166,000 after buying an additional 5,122 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Ribbon Communications by 24.6% in the 4th quarter. Wells Fargo & Company MN now owns 59,401 shares of the communications equipment provider’s stock valued at $247,000 after buying an additional 11,715 shares during the period. Institutional investors own 70.92% of the company’s stock.

Ribbon Communications Stock Up 1.9 %

Shares of NASDAQ:RBBN opened at $3.75 on Wednesday. The company’s fifty day moving average is $3.91 and its 200-day moving average is $3.98. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. Ribbon Communications Inc. has a 52 week low of $2.75 and a 52 week high of $5.38. The company has a market capitalization of $659.75 million, a PE ratio of -11.72 and a beta of 1.37.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st. JMP Securities reaffirmed a “market outperform” rating and set a $6.00 price objective on shares of Ribbon Communications in a report on Thursday, February 13th.

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.