Ribbon Communications Inc. (NASDAQ:RBBN) Position Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in shares of Ribbon Communications Inc. (NASDAQ:RBBNGet Rating) by 91.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,940 shares of the communications equipment provider’s stock after selling 182,858 shares during the period. Assenagon Asset Management S.A.’s holdings in Ribbon Communications were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank purchased a new stake in shares of Ribbon Communications during the first quarter worth $26,000. Quantbot Technologies LP raised its holdings in shares of Ribbon Communications by 103.8% during the second quarter. Quantbot Technologies LP now owns 10,600 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 5,400 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of Ribbon Communications during the first quarter worth $33,000. Mackenzie Financial Corp purchased a new stake in shares of Ribbon Communications during the second quarter worth $42,000. Finally, Sei Investments Co. raised its holdings in shares of Ribbon Communications by 21.9% during the first quarter. Sei Investments Co. now owns 23,058 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 4,138 shares in the last quarter. 86.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RBBN has been the subject of several recent research reports. StockNews.com lowered Ribbon Communications from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th. B. Riley cut their target price on Ribbon Communications from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Monday, October 24th.

Ribbon Communications Price Performance

NASDAQ RBBN opened at $3.21 on Friday. Ribbon Communications Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $5.47. The stock’s 50-day moving average is $2.72 and its two-hundred day moving average is $2.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.42 and a quick ratio of 1.18. The firm has a market cap of $539.67 million, a P/E ratio of -2.23 and a beta of 1.04.

Ribbon Communications (NASDAQ:RBBNGet Rating) last posted its earnings results on Wednesday, October 26th. The communications equipment provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05). The company had revenue of $207.13 million for the quarter, compared to the consensus estimate of $216.90 million. Ribbon Communications had a negative net margin of 26.31% and a negative return on equity of 2.86%. On average, analysts anticipate that Ribbon Communications Inc. will post -0.09 earnings per share for the current fiscal year.

Ribbon Communications Company Profile

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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; and solutions and services for enabling voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications and unified communications and collaboration.

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Institutional Ownership by Quarter for Ribbon Communications (NASDAQ:RBBN)

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