XTX Topco Ltd bought a new stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 157,828 shares of the communications equipment provider's stock, valued at approximately $619,000. XTX Topco Ltd owned 0.09% of Ribbon Communications at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in RBBN. Dimensional Fund Advisors LP grew its stake in shares of Ribbon Communications by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider's stock valued at $26,269,000 after buying an additional 302,039 shares during the period. Vanguard Group Inc. lifted its position in Ribbon Communications by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider's stock valued at $30,793,000 after acquiring an additional 295,524 shares in the last quarter. Royce & Associates LP lifted its position in Ribbon Communications by 10.3% in the 1st quarter. Royce & Associates LP now owns 3,092,068 shares of the communications equipment provider's stock valued at $12,121,000 after acquiring an additional 289,210 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Ribbon Communications by 323.1% in the 4th quarter. Russell Investments Group Ltd. now owns 158,108 shares of the communications equipment provider's stock valued at $658,000 after acquiring an additional 120,743 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Ribbon Communications by 33.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 476,868 shares of the communications equipment provider's stock valued at $1,984,000 after acquiring an additional 119,266 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.
Ribbon Communications Stock Performance
Shares of Ribbon Communications stock traded up $0.01 during mid-day trading on Friday, hitting $3.79. 236,456 shares of the stock were exchanged, compared to its average volume of 573,328. Ribbon Communications Inc. has a 12 month low of $2.84 and a 12 month high of $5.38. The company has a 50-day simple moving average of $3.91 and a 200 day simple moving average of $3.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.38. The company has a market capitalization of $671.13 million, a P/E ratio of -15.16 and a beta of 1.33.
Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The communications equipment provider reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. Ribbon Communications had a negative net margin of 5.14% and a positive return on equity of 7.08%. The firm had revenue of $220.58 million for the quarter, compared to analysts' expectations of $213.31 million. During the same quarter last year, the firm earned $0.05 EPS. The company's quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
RBBN has been the topic of several recent research reports. Rosenblatt Securities raised their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. B. Riley dropped their price target on shares of Ribbon Communications from $7.50 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Ribbon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $6.00.
Check Out Our Latest Stock Analysis on RBBN
Ribbon Communications Profile
(
Free Report)
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.
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