D. E. Shaw & Co. Inc. Has $1.95 Million Position in Ribbon Communications Inc. (NASDAQ:RBBN)

D. E. Shaw & Co. Inc. boosted its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 22.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 469,499 shares of the communications equipment provider's stock after acquiring an additional 84,999 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.27% of Ribbon Communications worth $1,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Eagle Investment Management LLC increased its holdings in shares of Ribbon Communications by 1,049.5% during the 4th quarter. First Eagle Investment Management LLC now owns 819,369 shares of the communications equipment provider's stock worth $3,409,000 after acquiring an additional 748,090 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Ribbon Communications by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider's stock worth $26,269,000 after purchasing an additional 302,039 shares during the period. Vanguard Group Inc. increased its holdings in shares of Ribbon Communications by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider's stock valued at $30,793,000 after purchasing an additional 295,524 shares during the last quarter. Royce & Associates LP raised its position in shares of Ribbon Communications by 10.5% in the fourth quarter. Royce & Associates LP now owns 2,802,858 shares of the communications equipment provider's stock valued at $11,660,000 after purchasing an additional 266,580 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Ribbon Communications by 62.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 675,265 shares of the communications equipment provider's stock worth $2,809,000 after buying an additional 258,909 shares during the last quarter. Institutional investors own 70.92% of the company's stock.

Wall Street Analyst Weigh In

RBBN has been the topic of a number of research reports. Rosenblatt Securities reiterated a "buy" rating and issued a $5.50 price target on shares of Ribbon Communications in a research note on Wednesday, April 30th. B. Riley dropped their price objective 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. Wall Street Zen lowered Ribbon Communications from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Finally, JMP Securities reiterated a "market outperform" rating and set a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $5.88.

Ribbon Communications Trading Up 1.7%

Shares of RBBN stock traded up $0.06 on Tuesday, hitting $3.57. The company had a trading volume of 504,028 shares, compared to its average volume of 417,925. The stock's 50-day moving average is $3.57 and its two-hundred day moving average is $3.95. 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 firm has a market cap of $630.26 million, a P/E ratio of -11.16 and a beta of 1.36. Ribbon Communications Inc. has a twelve month low of $2.75 and a twelve month high of $5.38.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.04). Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. The business had revenue of $181.28 million for the quarter, compared to analyst estimates of $191.66 million. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The business's revenue was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal 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.