BlackRock Inc. Makes New $16.72 Million Investment in Ribbon Communications Inc. $RBBN

Key Points

• BlackRock acquired 7.15 million shares of Ribbon Communications in the second quarter, worth approximately $16.72 million and representing a 4% stake. Institutional investors collectively own 70.92% of the company.
• Analyst sentiment is generally positive: five analysts rate RBBN a Buy and one rates it a Sell, resulting in a consensus “Moderate Buy” rating and a $3.52 price target.
• Ribbon reported quarterly revenue of $192.34 million, ahead of expectations, but missed on earnings with a loss of $0.03 per share; revenue declined 13% year over year.

BlackRock Inc. purchased a new stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,146,590 shares of the communications equipment provider's stock, valued at approximately $16,723,000. BlackRock Inc. owned 4.00% of Ribbon Communications as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RBBN. Tower Research Capital LLC TRC increased its stake in Ribbon Communications by 453.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,025 shares of the communications equipment provider's stock worth $40,000 after purchasing an additional 8,213 shares during the period. Indivisible Partners purchased a new stake in shares of Ribbon Communications during the fourth quarter valued at approximately $30,000. Mackenzie Financial Corp purchased a new stake in shares of Ribbon Communications during the fourth quarter valued at approximately $31,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Ribbon Communications in the third quarter worth approximately $41,000. Finally, Keel Point LLC bought a new position in shares of Ribbon Communications in the second quarter worth approximately $45,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on RBBN shares. B. Riley Financial upgraded shares of Ribbon Communications from a "neutral" rating to a "buy" rating and set a $3.30 price target for the company in a report on Wednesday, July 29th. Weiss Ratings restated a "sell (d)" rating on shares of Ribbon Communications in a research report on Friday, August 7th. Rosenblatt Securities lowered their price objective on shares of Ribbon Communications from $4.00 to $3.50 and set a "buy" rating for the company in a research note on Wednesday, July 29th. Finally, CL King set a $3.30 target price on shares of Ribbon Communications in a report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.52.

Ribbon Communications Stock Up 1.5%

Shares of Ribbon Communications stock opened at $1.99 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The company's fifty day simple moving average is $2.12 and its two-hundred day simple moving average is $2.36. The company has a market cap of $355.85 million, a P/E ratio of 24.88 and a beta of 1.36. Ribbon Communications Inc. has a 12-month low of $1.80 and a 12-month high of $4.24.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Ribbon Communications had a return on equity of 19.91% and a net margin of 1.96%.The company had revenue of $192.34 million during the quarter, compared to analysts' expectations of $189.99 million. During the same period in the prior year, the business posted $0.05 earnings per share. The company's revenue for the quarter was down 13.0% on a year-over-year basis. Research analysts anticipate that Ribbon Communications Inc. will post -0.05 EPS for the current year.

About Ribbon Communications

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company's offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon's technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon's product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.

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