MQS Management LLC Takes Position in Ribbon Communications Inc. (NASDAQ:RBBN)

MQS Management LLC acquired a new position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 30,348 shares of the communications equipment provider’s stock, valued at approximately $100,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Ribbon Communications in the 1st quarter valued at about $32,000. Gladius Capital Management LP bought a new position in shares of Ribbon Communications during the second quarter worth about $34,000. Brown Advisory Inc. acquired a new stake in Ribbon Communications in the 4th quarter valued at approximately $33,000. BNP Paribas Financial Markets lifted its stake in Ribbon Communications by 79.1% in the 1st quarter. BNP Paribas Financial Markets now owns 43,790 shares of the communications equipment provider’s stock valued at $140,000 after acquiring an additional 19,346 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Ribbon Communications during the 2nd quarter worth approximately $247,000. 70.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price objective on shares of Ribbon Communications in a report on Thursday, July 25th.

Ribbon Communications Price Performance

NASDAQ:RBBN opened at $3.05 on Friday. Ribbon Communications Inc. has a 52-week low of $1.78 and a 52-week high of $3.95. The company has a market cap of $530.43 million, a P/E ratio of -8.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.19 and a current ratio of 1.48. The stock’s 50-day simple moving average is $3.23 and its 200 day simple moving average is $3.12.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Ribbon Communications had a positive return on equity of 5.32% and a negative net margin of 6.68%. The company had revenue of $192.62 million for the quarter, compared to the consensus estimate of $203.05 million. During the same quarter in the prior year, the company earned $0.01 EPS. As a group, sell-side analysts forecast that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

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.