Ribbon Communications Inc. (NASDAQ:RBBN) Stock Position Decreased by Atria Investments Inc

Atria Investments Inc cut its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,886 shares of the communications equipment provider’s stock after selling 10,321 shares during the quarter. Atria Investments Inc’s holdings in Ribbon Communications were worth $152,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Ribbon Communications during the 1st quarter worth $32,000. Gladius Capital Management LP acquired a new stake in shares of Ribbon Communications in the second quarter worth $34,000. MQS Management LLC acquired a new stake in shares of Ribbon Communications in the second quarter worth $100,000. SG Americas Securities LLC boosted its position in shares of Ribbon Communications by 81.3% in the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 15,604 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of Ribbon Communications in the second quarter worth $137,000. 70.92% of the stock is owned by institutional investors.

Ribbon Communications Price Performance

RBBN opened at $3.90 on Monday. The stock has a market cap of $683.98 million, a price-to-earnings ratio of -12.19 and a beta of 1.08. Ribbon Communications Inc. has a 1 year low of $2.05 and a 1 year high of $4.31. 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 fifty day moving average price of $3.51 and a 200 day moving average price of $3.31.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.17 million. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. Ribbon Communications’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. Analysts forecast that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 target price on shares of Ribbon Communications in a research report 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.