Ribbon Communications Inc. (NASDAQ:RBBN) Shares Sold by Brandes Investment Partners LP

Brandes Investment Partners LP reduced its position in Ribbon Communications Inc. (NASDAQ:RBBN) by 19.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 753,003 shares of the communications equipment provider’s stock after selling 177,776 shares during the period. Brandes Investment Partners LP owned about 0.43% of Ribbon Communications worth $2,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Ribbon Communications in the first quarter worth about $32,000. Gladius Capital Management LP purchased a new position in shares of Ribbon Communications in the 2nd quarter valued at about $34,000. MQS Management LLC purchased a new position in Ribbon Communications during the second quarter worth approximately $100,000. AQR Capital Management LLC acquired a new stake in Ribbon Communications in the second quarter valued at approximately $137,000. Finally, BNP Paribas Financial Markets grew its holdings 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 valued at $140,000 after purchasing an additional 19,346 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $5.00 target price on shares of Ribbon Communications in a research report on Wednesday, September 25th.

Ribbon Communications Price Performance

Shares of Ribbon Communications stock opened at $3.25 on Tuesday. The stock has a market capitalization of $565.21 million, a P/E ratio of -9.29 and a beta of 1.09. The business has a 50 day simple moving average of $3.17 and a two-hundred day simple moving average of $3.14. Ribbon Communications Inc. has a 12 month low of $1.78 and a 12 month high of $3.95. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19.

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

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.