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

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Ribbon Communications Inc. by 76.1%, acquiring 513,985 shares and now holding about 1,189,250 shares valued at $4.66 million.
• Other institutional investors, including Vanguard Group and Wells Fargo, have also raised their positions in Ribbon, indicating growing institutional interest as they collectively own 70.92% of the company.
• Ribbon Communications reported earnings meeting analysts' expectations with a revenue increase of 14.5% year-over-year, and the stock is currently rated as a "buy" by several analysts.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 76.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,189,250 shares of the communications equipment provider's stock after purchasing an additional 513,985 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.67% of Ribbon Communications worth $4,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Walleye Capital LLC acquired a new position in Ribbon Communications during the fourth quarter worth about $43,000. Penn Capital Management Company LLC purchased a new stake in Ribbon Communications in the fourth quarter valued at approximately $56,000. Allianz Asset Management GmbH purchased a new stake in Ribbon Communications during the first quarter worth approximately $57,000. Renaissance Technologies LLC purchased a new stake in Ribbon Communications during the fourth quarter worth approximately $59,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Ribbon Communications during the fourth quarter worth approximately $89,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Ribbon Communications Stock Performance

Shares of Ribbon Communications stock traded down $0.08 during trading on Friday, hitting $3.87. 492,722 shares of the stock were exchanged, compared to its average volume of 618,764. The stock's fifty day moving average is $3.95 and its 200 day moving average is $3.90. The stock has a market cap of $685.30 million, a PE ratio of -15.48 and a beta of 1.33. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.38. Ribbon Communications Inc. has a 12 month low of $2.84 and a 12 month high of $5.38.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.05. The firm had revenue of $220.58 million during the quarter, compared to analyst estimates of $213.31 million. Ribbon Communications had a negative net margin of 5.14% and a positive return on equity of 7.08%. Ribbon Communications's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. As a group, sell-side analysts anticipate that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

RBBN has been the subject of several analyst reports. B. Riley decreased their target price on shares of Ribbon Communications from $7.50 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Rosenblatt Securities upped their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Wall Street Zen raised shares of Ribbon Communications from a "hold" rating to a "buy" rating in a 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.

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.