Virginia Retirement Systems ET AL grew its holdings in Ribbon Communications Inc (NASDAQ:RBBN) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,600 shares of the communications equipment provider’s stock after buying an additional 4,300 shares during the quarter. Virginia Retirement Systems ET AL owned 0.06% of Ribbon Communications worth $297,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in Ribbon Communications in the 4th quarter valued at $156,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Ribbon Communications in the 3rd quarter valued at $202,000. Assenagon Asset Management S.A. purchased a new stake in Ribbon Communications in the 4th quarter valued at $267,000. MetLife Investment Advisors LLC purchased a new stake in Ribbon Communications in the 3rd quarter valued at $274,000. Finally, Rhumbline Advisers grew its holdings in Ribbon Communications by 42.8% in the 4th quarter. Rhumbline Advisers now owns 77,742 shares of the communications equipment provider’s stock valued at $375,000 after buying an additional 23,308 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.
Shares of Ribbon Communications stock traded up $0.02 during trading hours on Thursday, hitting $5.11. The company’s stock had a trading volume of 41,957 shares, compared to its average volume of 314,050. Ribbon Communications Inc has a twelve month low of $4.62 and a twelve month high of $7.89. The firm has a market cap of $551.77 million, a PE ratio of 10.65, a price-to-earnings-growth ratio of 0.89 and a beta of 1.47. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.04.
Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Wednesday, February 20th. The communications equipment provider reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.06. Ribbon Communications had a positive return on equity of 8.62% and a negative net margin of 13.29%. The business had revenue of $173.00 million for the quarter, compared to analyst estimates of $171.81 million. During the same quarter in the prior year, the company posted $0.27 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts expect that Ribbon Communications Inc will post 0.54 earnings per share for the current year.
RBBN has been the subject of several analyst reports. Zacks Investment Research upgraded Ribbon Communications from a “hold” rating to a “strong-buy” rating and set a $7.75 target price for the company in a report on Wednesday, November 7th. ValuEngine cut Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. BidaskClub raised Ribbon Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 16th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $9.00 price target on shares of Ribbon Communications in a research note on Tuesday, February 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $7.75.
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Ribbon Communications Company Profile
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.
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