Dimensional Fund Advisors LP Acquires 302,039 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Dimensional Fund Advisors LP grew its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 5.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,314,669 shares of the communications equipment provider’s stock after acquiring an additional 302,039 shares during the period. Dimensional Fund Advisors LP owned about 3.60% of Ribbon Communications worth $26,269,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Walleye Capital LLC bought a new position in Ribbon Communications during the 4th quarter worth $43,000. Polymer Capital Management US LLC acquired a new stake in shares of Ribbon Communications in the fourth quarter valued at about $55,000. Renaissance Technologies LLC bought a new position in shares of Ribbon Communications during the fourth quarter worth about $59,000. KLP Kapitalforvaltning AS acquired a new position in shares of Ribbon Communications in the fourth quarter worth approximately $64,000. Finally, Inceptionr LLC bought a new stake in Ribbon Communications in the fourth quarter valued at approximately $104,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Ribbon Communications Stock Down 1.6 %

Shares of NASDAQ RBBN opened at $3.11 on Wednesday. Ribbon Communications Inc. has a 12-month low of $2.75 and a 12-month 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 cap of $549.05 million, a PE ratio of -9.72 and a beta of 1.36. The company’s fifty day simple moving average is $3.76 and its 200 day simple moving average is $3.97.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the consensus estimate 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 firm 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 business earned ($0.01) earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, sell-side analysts forecast that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RBBN. Rosenblatt Securities restated a “buy” rating and set a $5.50 price target on shares of Ribbon Communications in a report on Wednesday, April 30th. StockNews.com downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $6.00 price target on shares of Ribbon Communications in a research report on Thursday, February 13th. Finally, B. Riley dropped their price objective on Ribbon Communications from $7.50 to $6.00 and set a “buy” rating on the stock 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.88.

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.