Ribbon Communications Inc. (NASDAQ:RBBN) Shares Sold by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY cut its holdings in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,138,621 shares of the communications equipment provider's stock after selling 454,079 shares during the quarter. Ribbon Communications makes up approximately 2.0% of Paradigm Capital Management Inc. NY's portfolio, making the stock its 17th largest holding. Paradigm Capital Management Inc. NY owned 5.78% of Ribbon Communications worth $42,177,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Inspire Investing LLC acquired a new stake in shares of Ribbon Communications during the fourth quarter worth $844,000. SG Americas Securities LLC boosted its stake in Ribbon Communications by 14.7% in the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider's stock worth $166,000 after buying an additional 5,122 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Ribbon Communications by 323.1% in the 4th quarter. Russell Investments Group Ltd. now owns 158,108 shares of the communications equipment provider's stock worth $658,000 after buying an additional 120,743 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Ribbon Communications by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,604 shares of the communications equipment provider's stock valued at $261,000 after buying an additional 4,978 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Ribbon Communications by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider's stock valued at $30,793,000 after acquiring an additional 295,524 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Ribbon Communications Trading Down 3.3%

RBBN traded down $0.12 during trading on Friday, hitting $3.51. 272,068 shares of the company's stock were exchanged, compared to its average volume of 417,579. Ribbon Communications Inc. has a 1 year low of $2.75 and a 1 year high of $5.38. The stock has a 50 day moving average price of $3.59 and a 200 day moving average price of $3.95. The firm has a market cap of $619.67 million, a P/E ratio of -10.97 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $181.28 million during the quarter, compared to analyst estimates of $191.66 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm's revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts expect that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

RBBN has been the subject of a number of recent analyst reports. B. Riley lowered their target price on shares of Ribbon Communications from $7.50 to $6.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wall Street Zen lowered shares of Ribbon Communications from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. JMP Securities reissued a "market outperform" rating and set a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.50 target price on shares of Ribbon Communications in a research report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.88.

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.