D. E. Shaw & Co. Inc. Grows Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

D. E. Shaw & Co. Inc. increased its position in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 22.1% in the 4th quarter, according to its most recent 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 about 0.27% of Ribbon Communications worth $1,953,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 worth $30,793,000 after acquiring an additional 295,524 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 worth $26,269,000 after purchasing an additional 302,039 shares during the period. Royce & Associates LP boosted its stake in Ribbon Communications by 10.5% in the 4th quarter. Royce & Associates LP now owns 2,802,858 shares of the communications equipment provider's stock worth $11,660,000 after purchasing an additional 266,580 shares during the period. First Wilshire Securities Management Inc. boosted its stake in Ribbon Communications by 14.1% in the 4th quarter. First Wilshire Securities Management Inc. now owns 1,334,473 shares of the communications equipment provider's stock worth $5,551,000 after purchasing an additional 164,738 shares during the period. Finally, Northern Trust Corp boosted its stake in Ribbon Communications by 7.3% in the 4th quarter. Northern Trust Corp now owns 828,163 shares of the communications equipment provider's stock worth $3,445,000 after purchasing an additional 56,461 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on RBBN. Rosenblatt Securities restated a "buy" rating and issued a $5.50 price target on shares of Ribbon Communications in a research note on Wednesday, April 30th. StockNews.com downgraded Ribbon Communications from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. B. Riley dropped their price target on Ribbon Communications from $7.50 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, JMP Securities restated a "market outperform" rating and issued a $6.00 price target on shares of Ribbon Communications in a research note 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.com, Ribbon Communications currently has an average rating of "Moderate Buy" and a consensus target price of $5.88.

Ribbon Communications Stock Down 0.6%

NASDAQ RBBN opened at $3.61 on Thursday. 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 company has a market capitalization of $637.32 million, a P/E ratio of -11.28 and a beta of 1.36. Ribbon Communications Inc. has a one year low of $2.75 and a one year high of $5.38. The stock has a 50 day moving average price of $3.60 and a 200-day moving average price of $3.96.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.04). Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The firm had revenue of $181.28 million for the quarter, compared to the consensus estimate of $191.66 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm's revenue was up .9% compared to the same quarter last year. As a group, equities analysts predict that Ribbon Communications Inc. will post 0.18 EPS 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.

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