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

Intech Investment Management LLC acquired a new stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 10,523 shares of the communications equipment provider’s stock, valued at approximately $34,000.

A number of other hedge funds also recently made changes to their positions in the stock. Gladius Capital Management LP purchased a new position in Ribbon Communications during the second quarter valued at approximately $34,000. MQS Management LLC bought a new stake in Ribbon Communications during the second quarter valued at about $100,000. SG Americas Securities LLC lifted its holdings in Ribbon Communications by 81.3% in the 3rd quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock worth $113,000 after purchasing an additional 15,604 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Ribbon Communications in the 2nd quarter worth approximately $132,000. Finally, AQR Capital Management LLC purchased a new stake in Ribbon Communications during the 2nd quarter valued at approximately $137,000. 70.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Ribbon Communications Stock Performance

NASDAQ RBBN opened at $3.90 on Tuesday. The stock has a market capitalization of $683.98 million, a PE ratio of -12.19 and a beta of 1.14. Ribbon Communications Inc. has a 1-year low of $2.15 and a 1-year high of $4.31. The business has a 50 day simple moving average of $3.68 and a two-hundred day simple moving average of $3.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. The business had revenue of $210.00 million during the quarter, compared to the consensus estimate of $212.17 million. During the same period in the previous year, the business posted $0.03 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. On average, research analysts predict that Ribbon Communications Inc. will post 0.13 EPS 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.