Barclays PLC Grows Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Barclays PLC boosted its position in Ribbon Communications Inc. (NASDAQ:RBBN) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,551 shares of the communications equipment provider’s stock after acquiring an additional 10,441 shares during the quarter. Barclays PLC owned 0.10% of Ribbon Communications worth $751,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Ribbon Communications by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider’s stock valued at $30,793,000 after purchasing an additional 295,524 shares in the last quarter. Royce & Associates LP raised its stake in Ribbon Communications by 10.5% in the fourth quarter. Royce & Associates LP now owns 2,802,858 shares of the communications equipment provider’s stock valued at $11,660,000 after buying an additional 266,580 shares in the last quarter. First Wilshire Securities Management Inc. lifted its holdings in Ribbon Communications by 14.1% during the 4th quarter. First Wilshire Securities Management Inc. now owns 1,334,473 shares of the communications equipment provider’s stock worth $5,551,000 after buying an additional 164,738 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Ribbon Communications by 1,049.5% during the 4th quarter. First Eagle Investment Management LLC now owns 819,369 shares of the communications equipment provider’s stock worth $3,409,000 after acquiring an additional 748,090 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Ribbon Communications by 62.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 675,265 shares of the communications equipment provider’s stock valued at $2,809,000 after acquiring an additional 258,909 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Stock Performance

Shares of RBBN opened at $3.11 on Wednesday. The company’s 50 day simple moving average is $3.76 and its 200-day simple moving average is $3.97. Ribbon Communications Inc. has a 12-month low of $2.75 and a 12-month high of $5.38. The firm has a market cap of $549.05 million, a PE ratio of -9.72 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Tuesday, April 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.04). Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The business had revenue of $181.28 million during the quarter, compared to analyst estimates of $191.66 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts predict that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com downgraded Ribbon Communications from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. B. Riley lowered their target price on shares of Ribbon Communications from $7.50 to $6.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. JMP Securities reiterated a “market outperform” rating and set a $6.00 price target on shares of Ribbon Communications in a research note on Thursday, February 13th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.88.

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.