Ribbon Communications Inc. (NASDAQ:RBBN) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,920 shares of the communications equipment provider’s stock after selling 27,200 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ribbon Communications were worth $260,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Innealta Capital LLC purchased a new position in Ribbon Communications in the first quarter valued at approximately $32,000. Gladius Capital Management LP purchased a new position in shares of Ribbon Communications in the 2nd quarter valued at $34,000. MQS Management LLC purchased a new position in shares of Ribbon Communications in the 2nd quarter valued at $100,000. SG Americas Securities LLC raised its stake in Ribbon Communications by 81.3% during the 3rd quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock worth $113,000 after acquiring an additional 15,604 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Ribbon Communications in the second quarter valued at $132,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated 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 Down 1.5 %

RBBN stock opened at $3.83 on Tuesday. The company has a market cap of $671.71 million, a price-to-earnings ratio of -12.19 and a beta of 1.08. The company has a fifty day moving average price of $3.41 and a 200 day moving average price of $3.29. 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 Inc. has a 12 month low of $2.02 and a 12 month high of $4.31.

Ribbon Communications (NASDAQ:RBBN) last announced its 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 analysts’ expectations of $212.17 million. During the same period in the previous year, the company posted $0.03 earnings per share. Ribbon Communications’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts expect that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

About Ribbon Communications

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.