Connor Clark & Lunn Investment Management Ltd. Invests $5.18 Million in Ribbon Communications Inc. $RBBN

Key Points

• Connor Clark & Lunn Investment Management acquired 2.21 million Ribbon Communications shares worth approximately $5.18 million, giving it a 1.24% stake. Institutional investors collectively own 70.92% of the company.
• Ribbon Communications reported a quarterly loss of $0.03 per share, missing estimates by $0.02, while revenue reached $192.34 million—above expectations but down 13% year over year.
• RBBN shares opened at $2.00, near their 52-week low, while analysts maintained a “Moderate Buy” consensus with an average price target of $3.52.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,213,134 shares of the communications equipment provider's stock, valued at approximately $5,179,000. Connor Clark & Lunn Investment Management Ltd. owned about 1.24% of Ribbon Communications at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new position in Ribbon Communications in the first quarter worth approximately $26,000. Indivisible Partners bought a new stake in shares of Ribbon Communications during the 4th quarter valued at $30,000. Mackenzie Financial Corp purchased a new stake in shares of Ribbon Communications in the 4th quarter worth $31,000. NewEdge Wealth LLC purchased a new stake in shares of Ribbon Communications in the 1st quarter worth $34,000. Finally, DGS Capital Management LLC purchased a new stake in shares of Ribbon Communications in the 4th quarter worth $36,000. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Trading Down 1.5%

Shares of RBBN stock opened at $2.00 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.31. The stock has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $2.36. The firm has a market capitalization of $357.65 million, a PE ratio of 25.00 and a beta of 1.36. Ribbon Communications Inc. has a 52-week low of $1.80 and a 52-week high of $4.24.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $192.34 million during the quarter, compared to analysts' expectations of $189.99 million. Ribbon Communications had a net margin of 1.96% and a return on equity of 19.91%. Ribbon Communications's revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 earnings per share. On average, analysts predict that Ribbon Communications Inc. will post -0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. CL King set a $3.30 target price on Ribbon Communications in a research report on Wednesday, July 29th. Wall Street Zen cut Ribbon Communications from a "buy" rating to a "hold" rating in a research report on Sunday, May 3rd. B. Riley Financial raised Ribbon Communications from a "neutral" rating to a "buy" rating and set a $3.30 price objective on the stock in a research report on Wednesday, July 29th. Rosenblatt Securities reduced their target price on shares of Ribbon Communications from $4.00 to $3.50 and set a "buy" rating for the company in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Ribbon Communications in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $3.52.

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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