Ribbon Communications Inc. (NASDAQ:RBBN) Stock Position Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 416,356 shares of the communications equipment provider’s stock after purchasing an additional 46,476 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.24% of Ribbon Communications worth $1,353,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Royce & Associates LP grew its holdings in shares of Ribbon Communications by 18.0% during the third quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock valued at $8,243,000 after buying an additional 386,518 shares in the last quarter. Victory Capital Management Inc. boosted its position in Ribbon Communications by 59.4% during the 3rd quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock worth $1,640,000 after acquiring an additional 188,077 shares during the period. Assenagon Asset Management S.A. grew its stake in Ribbon Communications by 19.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 129,984 shares of the communications equipment provider’s stock valued at $422,000 after acquiring an additional 20,826 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of 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 valued at $113,000 after purchasing an additional 15,604 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Ribbon Communications in the second quarter worth approximately $132,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Ribbon Communications Stock Performance

Shares of NASDAQ RBBN opened at $3.87 on Wednesday. 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 one year low of $2.06 and a one year high of $4.31. The business’s 50-day moving average price is $3.52 and its two-hundred day moving average price is $3.32. The company has a market capitalization of $678.74 million, a P/E ratio of -12.06 and a beta of 1.08.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.17 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Ribbon Communications Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.