D. E. Shaw & Co. Inc. Grows Stock Position in Ribbon Communications Inc. (NASDAQ:RBBN)

D. E. Shaw & Co. Inc. grew its holdings in Ribbon Communications Inc. (NASDAQ:RBBN) by 22.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 469,499 shares of the communications equipment provider’s stock after purchasing an additional 84,999 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Ribbon Communications were worth $1,953,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RBBN. First Eagle Investment Management LLC increased its stake in Ribbon Communications by 1,049.5% in the fourth quarter. First Eagle Investment Management LLC now owns 819,369 shares of the communications equipment provider’s stock worth $3,409,000 after purchasing an additional 748,090 shares during the period. Dimensional Fund Advisors LP increased its stake in Ribbon Communications by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider’s stock worth $26,269,000 after purchasing an additional 302,039 shares during the period. Vanguard Group Inc. increased its stake in Ribbon Communications by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider’s stock worth $30,793,000 after purchasing an additional 295,524 shares during the period. Royce & Associates LP increased its stake in Ribbon Communications by 10.5% in the fourth quarter. Royce & Associates LP now owns 2,802,858 shares of the communications equipment provider’s stock worth $11,660,000 after purchasing an additional 266,580 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Ribbon Communications by 62.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 675,265 shares of the communications equipment provider’s stock worth $2,809,000 after purchasing an additional 258,909 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RBBN. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 target price on shares of Ribbon Communications in a research note on Wednesday, April 30th. StockNews.com lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. B. Riley reduced their target price on Ribbon Communications from $7.50 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, JMP Securities restated a “market outperform” rating and set a $6.00 price target on shares of Ribbon Communications in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.88.

Ribbon Communications Stock Performance

Shares of Ribbon Communications stock opened at $3.61 on Thursday. The firm has a market cap of $637.32 million, a P/E ratio of -11.28 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. Ribbon Communications Inc. has a 12 month low of $2.75 and a 12 month high of $5.38. The stock’s fifty day moving average price is $3.60 and its 200-day moving average price is $3.96.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). The firm had revenue of $181.28 million for the quarter, compared to analysts’ expectations of $191.66 million. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) EPS. On average, equities research analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share 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.