Paradigm Capital Management Inc. NY Increases Stock Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

Paradigm Capital Management Inc. NY boosted its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,546,400 shares of the communications equipment provider’s stock after buying an additional 420,000 shares during the period. Ribbon Communications makes up approximately 1.6% of Paradigm Capital Management Inc. NY’s holdings, making the stock its 18th largest holding. Paradigm Capital Management Inc. NY owned approximately 6.04% of Ribbon Communications worth $34,698,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brown Advisory Inc. purchased a new stake in shares of Ribbon Communications in the fourth quarter valued at $33,000. SG Capital Management LLC raised its position in Ribbon Communications by 5.3% in the 4th quarter. SG Capital Management LLC now owns 88,110 shares of the communications equipment provider’s stock worth $256,000 after purchasing an additional 4,449 shares during the period. BNP Paribas Financial Markets lifted its stake in Ribbon Communications by 79.1% in the first quarter. BNP Paribas Financial Markets now owns 43,790 shares of the communications equipment provider’s stock worth $140,000 after purchasing an additional 19,346 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Ribbon Communications by 30.1% during the first quarter. GSA Capital Partners LLP now owns 245,543 shares of the communications equipment provider’s stock valued at $786,000 after buying an additional 56,829 shares during the period. Finally, Pacific Ridge Capital Partners LLC grew its stake in shares of Ribbon Communications by 7.1% during the first quarter. Pacific Ridge Capital Partners LLC now owns 148,591 shares of the communications equipment provider’s stock valued at $475,000 after buying an additional 9,822 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reissued a “buy” rating and set a $5.00 price target on shares of Ribbon Communications in a research note on Thursday, July 25th.

Ribbon Communications Trading Up 2.3 %

Shares of RBBN opened at $3.12 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. The firm has a market capitalization of $542.60 million, a price-to-earnings ratio of -8.91 and a beta of 1.09. The company has a 50-day moving average of $3.22 and a 200 day moving average of $3.13. Ribbon Communications Inc. has a 1-year low of $1.78 and a 1-year high of $3.95.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results 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). The firm had revenue of $192.62 million during the quarter, compared to analysts’ expectations of $203.05 million. Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. During the same quarter in the previous year, the firm posted $0.01 EPS. On average, research analysts expect that Ribbon Communications Inc. will post 0.13 EPS for the current 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.