AQR Capital Management LLC Makes New Investment in Ribbon Communications Inc. (NASDAQ:RBBN)

AQR Capital Management LLC acquired a new position in Ribbon Communications Inc. (NASDAQ:RBBN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,758 shares of the communications equipment provider’s stock, valued at approximately $137,000.

Several other institutional investors and hedge funds have also bought and sold shares of RBBN. Innealta Capital LLC purchased a new stake in Ribbon Communications in the first quarter worth about $32,000. Gladius Capital Management LP purchased a new position in shares of Ribbon Communications during the second quarter valued at approximately $34,000. MQS Management LLC purchased a new position in shares of Ribbon Communications during the second quarter valued at approximately $100,000. BNP Paribas Financial Markets lifted its holdings in shares of Ribbon Communications by 79.1% during 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 last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Ribbon Communications during the second quarter valued at approximately $247,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Ribbon Communications Price Performance

Shares of RBBN opened at $3.41 on Friday. The company has a market capitalization of $595.15 million, a P/E ratio of -10.66 and a beta of 1.09. The company has a quick ratio of 1.19, a current ratio of 1.48 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $3.18 and a 200 day moving average of $3.16. Ribbon Communications Inc. has a twelve month low of $1.78 and a twelve month high of $3.95.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 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 during the quarter, compared to the consensus estimate of $203.05 million. During the same period last year, the firm posted $0.01 EPS. As a group, equities research analysts anticipate that Ribbon Communications Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Ribbon Communications 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.