Los Angeles Capital Management LLC Buys 38,650 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Los Angeles Capital Management LLC lifted its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 47.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,620 shares of the communications equipment provider’s stock after acquiring an additional 38,650 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.07% of Ribbon Communications worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in RBBN. Principal Financial Group Inc. acquired a new position in shares of Ribbon Communications in the 3rd quarter valued at about $35,000. NewEdge Wealth LLC bought a new position in shares of Ribbon Communications during the 4th quarter worth approximately $40,000. Caxton Associates LP acquired a new stake in shares of Ribbon Communications during the 3rd quarter worth approximately $41,000. Qtron Investments LLC increased its stake in shares of Ribbon Communications by 64.1% in the 3rd quarter. Qtron Investments LLC now owns 17,986 shares of the communications equipment provider’s stock valued at $48,000 after acquiring an additional 7,025 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Ribbon Communications by 22.0% during the third quarter. New York State Common Retirement Fund now owns 39,646 shares of the communications equipment provider’s stock worth $106,000 after acquiring an additional 7,146 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on RBBN shares. StockNews.com raised Ribbon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. JMP Securities initiated coverage on shares of Ribbon Communications in a research report on Monday, April 29th. They issued a “mkt outperform” rating and a $6.00 price objective for the company. Finally, B. Riley lifted their target price on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a research report on Thursday, April 25th.

Insider Activity at Ribbon Communications

In other Ribbon Communications news, Director Bruns H. Grayson bought 100,000 shares of the stock in a transaction on Friday, March 15th. The shares were acquired at an average price of $2.89 per share, with a total value of $289,000.00. Following the acquisition, the director now directly owns 590,175 shares of the company’s stock, valued at approximately $1,705,605.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Ribbon Communications news, EVP Dan Redington sold 34,452 shares of Ribbon Communications stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $3.10, for a total transaction of $106,801.20. Following the completion of the transaction, the executive vice president now owns 66,839 shares of the company’s stock, valued at approximately $207,200.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruns H. Grayson purchased 100,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the transaction, the director now owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. 2.10% of the stock is currently owned by corporate insiders.

Ribbon Communications Stock Performance

RBBN opened at $3.16 on Monday. The firm has a 50-day moving average of $2.98 and a 200 day moving average of $2.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.23. Ribbon Communications Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $3.65.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $233.63 million. Ribbon Communications had a positive return on equity of 4.26% and a negative net margin of 7.11%. As a group, sell-side analysts forecast that Ribbon Communications Inc. will post 0.14 EPS for the current fiscal 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.