Penn Capital Management Company LLC Purchases 75,928 Shares of Ribbon Communications Inc. $RBBN

Key Points

• Penn Capital Management Company LLC significantly increased its stake in Ribbon Communications by 567.9%, acquiring 75,928 additional shares, bringing their total to 89,299 shares worth approximately $350,000.
• Several hedge funds have also invested in Ribbon Communications, with institutional ownership currently at 70.92%, highlighting a growing interest in the company by larger investors.
• Equities analysts generally maintain a buy rating on Ribbon Communications, with an average price target estimated at $6.00.

Penn Capital Management Company LLC raised its position in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 567.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,299 shares of the communications equipment provider's stock after purchasing an additional 75,928 shares during the period. Penn Capital Management Company LLC owned 0.05% of Ribbon Communications worth $350,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Walleye Capital LLC purchased a new stake in shares of Ribbon Communications in the fourth quarter worth $43,000. Allianz Asset Management GmbH purchased a new stake in shares of Ribbon Communications in the 1st quarter valued at about $57,000. Renaissance Technologies LLC purchased a new stake in shares of Ribbon Communications in the 4th quarter valued at about $59,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Ribbon Communications during the 4th quarter valued at about $89,000. Finally, ProShare Advisors LLC grew its holdings in shares of Ribbon Communications by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 25,782 shares of the communications equipment provider's stock worth $107,000 after purchasing an additional 8,485 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RBBN shares. Wall Street Zen raised shares of Ribbon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Rosenblatt Securities raised their price objective on shares of Ribbon Communications from $5.50 to $6.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, B. Riley cut their target price on shares of Ribbon Communications from $7.50 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ribbon Communications presently has an average rating of "Buy" and an average price target of $6.00.

Ribbon Communications Trading Up 6.1%

Shares of RBBN opened at $3.97 on Friday. Ribbon Communications Inc. has a fifty-two week low of $2.84 and a fifty-two week high of $5.38. The firm has a market cap of $703.02 million, a price-to-earnings ratio of -15.88 and a beta of 1.33. The firm has a 50 day moving average price of $3.94 and a 200-day moving average price of $3.89. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.13 and a current ratio of 1.38.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The communications equipment provider reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. The company had revenue of $220.58 million for the quarter, compared to analysts' expectations of $213.31 million. Ribbon Communications had a negative net margin of 5.14% and a positive return on equity of 7.08%. The firm's revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. Ribbon Communications has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts forecast that Ribbon Communications Inc. will post 0.18 earnings per share for the current 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.

Want to see what other hedge funds are holding RBBN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ribbon Communications Inc. (NASDAQ:RBBN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.