Ribbon Communications Inc. (NASDAQ:RBBN) Shares Purchased by Algert Global LLC

Algert Global LLC grew its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 228,327 shares of the communications equipment provider’s stock after purchasing an additional 19,775 shares during the quarter. Algert Global LLC owned approximately 0.13% of Ribbon Communications worth $751,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RBBN. Innealta Capital LLC purchased a new position in shares of Ribbon Communications in the first quarter worth about $32,000. Gladius Capital Management LP purchased a new position in Ribbon Communications in the 2nd quarter worth approximately $34,000. MQS Management LLC acquired a new position in shares of Ribbon Communications during the 2nd quarter worth approximately $100,000. AQR Capital Management LLC purchased a new stake in shares of Ribbon Communications in the second quarter valued at approximately $137,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Ribbon Communications by 79.1% in the first quarter. BNP Paribas Financial Markets now owns 43,790 shares of the communications equipment provider’s stock valued at $140,000 after purchasing an additional 19,346 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Price Performance

Ribbon Communications stock opened at $3.28 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.19 and a debt-to-equity ratio of 0.82. The stock has a market cap of $572.46 million, a P/E ratio of -9.37 and a beta of 1.09. The company has a 50-day moving average price of $3.12 and a 200 day moving average price of $3.14. Ribbon Communications Inc. has a 12-month low of $1.78 and a 12-month high of $3.95.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $192.62 million for the quarter, compared to analysts’ expectations of $203.05 million. Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. During the same period in the previous year, the firm posted $0.01 EPS. Sell-side analysts anticipate that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reissued a “buy” rating and set a $5.00 price objective on shares of Ribbon Communications in a research note on Wednesday, September 25th.

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.