Ribbon Communications Inc. (NASDAQ:RBBN) Position Increased by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in Ribbon Communications Inc. (NASDAQ:RBBN) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,915 shares of the communications equipment provider’s stock after buying an additional 5,122 shares during the quarter. SG Americas Securities LLC’s holdings in Ribbon Communications were worth $166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of RBBN. Intech Investment Management LLC purchased a new stake in shares of Ribbon Communications during the third quarter valued at $34,000. AQR Capital Management LLC acquired a new position in shares of Ribbon Communications in the second quarter worth about $137,000. Sanctuary Advisors LLC acquired a new position in shares of Ribbon Communications in the second quarter worth about $132,000. Renaissance Technologies LLC purchased a new position in shares of Ribbon Communications in the second quarter worth approximately $247,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Ribbon Communications by 19.1% during the third quarter. Assenagon Asset Management S.A. now owns 129,984 shares of the communications equipment provider’s stock valued at $422,000 after acquiring an additional 20,826 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Ribbon Communications Trading Down 2.4 %

NASDAQ RBBN opened at $4.09 on Monday. 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 Inc. has a 1-year low of $2.46 and a 1-year high of $4.39. The firm’s fifty day simple moving average is $4.05 and its 200-day simple moving average is $3.61. The company has a market capitalization of $717.32 million, a PE ratio of -12.78 and a beta of 1.11.

Wall Street Analyst Weigh In

RBBN has been the topic of several recent analyst reports. Northland Securities boosted their target price on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Rosenblatt Securities reissued a “buy” rating and set a $5.50 price target on shares of Ribbon Communications in a research report on Monday, December 30th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $6.00.

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.