Barclays PLC Has $553,000 Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Barclays PLC raised its stake in Ribbon Communications Inc. (NASDAQ:RBBN) by 153.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,110 shares of the communications equipment provider’s stock after buying an additional 102,969 shares during the quarter. Barclays PLC owned about 0.10% of Ribbon Communications worth $553,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RBBN. XTX Topco Ltd increased its holdings in Ribbon Communications by 6.3% during the second quarter. XTX Topco Ltd now owns 79,802 shares of the communications equipment provider’s stock worth $263,000 after buying an additional 4,746 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Ribbon Communications by 4.6% during the 2nd quarter. Rhumbline Advisers now owns 152,619 shares of the communications equipment provider’s stock worth $502,000 after purchasing an additional 6,668 shares in the last quarter. State Street Corp lifted its holdings in shares of Ribbon Communications by 0.4% during the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after acquiring an additional 7,963 shares during the period. Intech Investment Management LLC bought a new position in shares of Ribbon Communications in the 3rd quarter valued at $34,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Ribbon Communications by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock valued at $2,479,000 after buying an additional 13,984 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Stock Down 4.8 %

RBBN stock opened at $3.96 on Friday. Ribbon Communications Inc. has a 1-year low of $2.46 and a 1-year high of $4.39. The stock has a market cap of $694.52 million, a P/E ratio of -12.37 and a beta of 1.14. The stock’s fifty day simple moving average is $3.96 and its two-hundred day simple moving average is $3.49. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84.

Ribbon Communications (NASDAQ:RBBN) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $212.17 million. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. Analysts expect that Ribbon Communications Inc. will post 0.13 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on RBBN shares. Northland Securities boosted their price objective on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a research report on Monday. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $6.00.

Ribbon Communications 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.