Paradigm Capital Management Inc. NY Takes Position in Ribbon Communications Inc. $RBBN

Paradigm Capital Management Inc. NY purchased a new stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,036,398 shares of the communications equipment provider's stock, valued at approximately $7,105,000. Paradigm Capital Management Inc. NY owned approximately 1.70% of Ribbon Communications at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ribbon Communications during the 2nd quarter worth about $5,179,000. Ieq Capital LLC purchased a new position in Ribbon Communications during the 2nd quarter valued at about $48,000. NewEdge Wealth LLC acquired a new position in shares of Ribbon Communications in the 2nd quarter valued at about $38,000. BlackRock Inc. acquired a new position in shares of Ribbon Communications in the 2nd quarter valued at about $16,723,000. Finally, Deutsche Bank AG purchased a new stake in shares of Ribbon Communications in the second quarter worth approximately $192,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Ribbon Communications Stock Up 0.5%

Shares of Ribbon Communications stock opened at $2.04 on Tuesday. The firm has a market cap of $364.80 million, a price-to-earnings ratio of 25.50 and a beta of 1.36. The stock has a 50-day simple moving average of $2.20 and a 200-day simple moving average of $2.37. Ribbon Communications Inc. has a 52-week low of $1.80 and a 52-week high of $4.24. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.31 and a quick ratio of 1.03.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.02). The firm had revenue of $192.34 million during the quarter, compared to analyst estimates of $189.99 million. Ribbon Communications had a return on equity of 19.91% and a net margin of 1.96%.The company's quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. On average, equities research analysts expect that Ribbon Communications Inc. will post -0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Ribbon Communications Profile

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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