Two Sigma Advisers LP Sells 36,000 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Two Sigma Advisers LP lowered its position in Ribbon Communications Inc. (NASDAQ:RBBN) by 62.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,800 shares of the communications equipment provider’s stock after selling 36,000 shares during the period. Two Sigma Advisers LP’s holdings in Ribbon Communications were worth $91,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RBBN. Walleye Capital LLC acquired a new position in shares of Ribbon Communications during the fourth quarter worth about $43,000. Polymer Capital Management US LLC acquired a new position in shares of Ribbon Communications during the fourth quarter worth about $55,000. Penn Capital Management Company LLC acquired a new position in shares of Ribbon Communications during the fourth quarter worth about $56,000. Renaissance Technologies LLC acquired a new position in shares of Ribbon Communications during the fourth quarter worth about $59,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Ribbon Communications during the fourth quarter worth about $64,000. Institutional investors own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

RBBN has been the subject of several recent research reports. Wall Street Zen cut Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. B. Riley reduced their price objective on shares of Ribbon Communications from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. JMP Securities restated a “market outperform” rating and set a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. Finally, Rosenblatt Securities restated a “buy” rating and set a $5.50 price objective on shares of Ribbon Communications in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.88.

Ribbon Communications Trading Up 3.1%

Shares of NASDAQ:RBBN opened at $3.69 on Monday. 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 $651.45 million, a P/E ratio of -11.53 and a beta of 1.31. The company has a 50-day simple moving average of $3.49 and a 200 day simple moving average of $3.92. 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 (NASDAQ:RBBN) last issued its earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share (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 last year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts forecast 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.