Victory Capital Management Inc. Buys 51,336 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Victory Capital Management Inc. raised its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 555,839 shares of the communications equipment provider’s stock after purchasing an additional 51,336 shares during the quarter. Victory Capital Management Inc. owned 0.32% of Ribbon Communications worth $2,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Inspire Investing LLC bought a new stake in shares of Ribbon Communications in the 4th quarter worth approximately $844,000. Barclays PLC lifted its holdings in shares of Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after acquiring an additional 102,969 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Ribbon Communications by 18.0% in the 3rd quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock worth $8,243,000 after acquiring an additional 386,518 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ribbon Communications by 14.7% in the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock worth $166,000 after acquiring an additional 5,122 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Ribbon Communications by 9.9% in the 4th quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider’s stock worth $648,000 after acquiring an additional 13,990 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Price Performance

Shares of NASDAQ RBBN opened at $3.95 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. Ribbon Communications Inc. has a 52 week low of $2.47 and a 52 week high of $5.38. The firm’s fifty day moving average is $4.27 and its 200 day moving average is $3.85. The company has a market cap of $694.11 million, a price-to-earnings ratio of -12.34 and a beta of 1.23.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. On average, equities research analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Ribbon Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 13th. Rosenblatt Securities restated a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a report on Monday, December 30th. 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 report on Thursday, December 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $6.00 target price on shares of Ribbon Communications in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $6.00.

Ribbon Communications Company 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.