Rhumbline Advisers Purchases 13,990 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Rhumbline Advisers boosted its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 155,694 shares of the communications equipment provider’s stock after purchasing an additional 13,990 shares during the quarter. Rhumbline Advisers owned about 0.09% of Ribbon Communications worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC bought a new position in shares of Ribbon Communications during the 3rd quarter worth $34,000. SG Americas Securities LLC grew its holdings in Ribbon Communications by 14.7% during 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 in the last quarter. Barclays PLC increased its position in Ribbon Communications by 153.4% during the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock valued at $553,000 after purchasing an additional 102,969 shares during the period. Inspire Investing LLC purchased a new position in Ribbon Communications during the 4th quarter valued at about $844,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Ribbon Communications by 12.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 416,356 shares of the communications equipment provider’s stock valued at $1,353,000 after purchasing an additional 46,476 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RBBN has been the topic of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. StockNews.com lowered Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Finally, Northland Securities upped their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $6.00.

Ribbon Communications Price Performance

Shares of RBBN opened at $4.17 on Friday. The company has a 50 day moving average of $4.29 and a two-hundred day moving average of $3.82. 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 twelve month low of $2.47 and a twelve month high of $5.38. The company has a market cap of $732.77 million, a price-to-earnings ratio of -13.03 and a beta of 1.23.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. As a group, analysts predict that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

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.