Ameriprise Financial Inc. Purchases 3,622 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Ameriprise Financial Inc. increased its stake in Ribbon Communications Inc. (NASDAQ:RBBN) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,621 shares of the communications equipment provider’s stock after purchasing an additional 3,622 shares during the quarter. Ameriprise Financial Inc. owned about 0.08% of Ribbon Communications worth $568,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Ribbon Communications by 14.7% in 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 in the last quarter. Russell Investments Group Ltd. grew its position in Ribbon Communications by 323.1% during the fourth quarter. Russell Investments Group Ltd. now owns 158,108 shares of the communications equipment provider’s stock worth $658,000 after buying an additional 120,743 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Ribbon Communications by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,604 shares of the communications equipment provider’s stock worth $261,000 after buying an additional 4,978 shares in the last quarter. Vanguard Group Inc. grew its position in Ribbon Communications by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider’s stock worth $30,793,000 after buying an additional 295,524 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Ribbon Communications by 9.9% during the fourth quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider’s stock worth $648,000 after buying an additional 13,990 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RBBN shares. JMP Securities restated a “market outperform” rating and set a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, February 13th. Wall Street Zen cut Ribbon Communications from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a report on Wednesday, April 30th. Finally, B. Riley cut their price objective on Ribbon Communications from $7.50 to $6.00 and set a “buy” rating for the company in a report 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.88.

Ribbon Communications Price Performance

RBBN opened at $3.82 on Wednesday. The stock has a 50-day moving average price of $3.51 and a 200-day moving average price of $3.93. Ribbon Communications Inc. has a 12-month low of $2.75 and a 12-month high of $5.38. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $674.40 million, a P/E ratio of -11.94 and a beta of 1.36.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). The company had revenue of $181.28 million for the quarter, compared to analysts’ expectations of $191.66 million. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Equities analysts predict that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

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.