Connor Clark & Lunn Investment Management Ltd. Acquires 258,909 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 62.2% in the fourth quarter, HoldingsChannel reports. The fund owned 675,265 shares of the communications equipment provider’s stock after acquiring an additional 258,909 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ribbon Communications were worth $2,809,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of Ribbon Communications by 14.7% during the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock valued at $166,000 after purchasing an additional 5,122 shares in the last quarter. State Street Corp grew its stake in shares of Ribbon Communications by 0.4% in the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider’s stock worth $6,171,000 after buying an additional 7,963 shares during the last quarter. Intech Investment Management LLC bought a new position in Ribbon Communications during the 3rd quarter valued at approximately $34,000. Charles Schwab Investment Management Inc. raised its stake in Ribbon Communications by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 762,892 shares of the communications equipment provider’s stock valued at $2,479,000 after buying an additional 13,984 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Ribbon Communications by 9.9% in the fourth quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider’s stock worth $648,000 after acquiring an additional 13,990 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RBBN shares. StockNews.com upgraded Ribbon Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 13th. Rosenblatt Securities restated a “buy” rating and set a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $6.00 target price on shares of Ribbon Communications in a report on Thursday, February 13th. Finally, Northland Securities increased their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.00.

Ribbon Communications Price Performance

NASDAQ RBBN opened at $3.95 on Tuesday. Ribbon Communications Inc. has a one year low of $2.47 and a one year high of $5.38. The stock has a 50-day moving average of $4.27 and a 200 day moving average of $3.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The company has a market capitalization of $694.11 million, a price-to-earnings ratio of -12.34 and a beta of 1.23.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. On average, sell-side analysts forecast that Ribbon Communications Inc. will post 0.18 EPS 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.