Squarepoint Ops LLC Has $549,000 Stake in Ribbon Communications Inc. (NASDAQ:RBBN)

Squarepoint Ops LLC lessened its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 37.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,928 shares of the communications equipment provider's stock after selling 78,674 shares during the quarter. Squarepoint Ops LLC owned 0.08% of Ribbon Communications worth $549,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ribbon Communications by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,584 shares of the communications equipment provider's stock valued at $219,000 after acquiring an additional 2,288 shares during the last quarter. Ameriprise Financial Inc. grew its position in Ribbon Communications by 2.7% in the fourth quarter. Ameriprise Financial Inc. now owns 136,621 shares of the communications equipment provider's stock worth $568,000 after acquiring an additional 3,622 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Ribbon Communications by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,604 shares of the communications equipment provider's stock worth $261,000 after buying an additional 4,978 shares during the period. SG Americas Securities LLC boosted its position in shares of Ribbon Communications by 14.7% during the fourth 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 period. Finally, ProShare Advisors LLC boosted its position 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 buying an additional 8,485 shares during the period. Hedge funds and other institutional investors own 70.92% of the company's stock.

Wall Street Analysts Forecast Growth

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

Ribbon Communications Stock Down 0.6%

Ribbon Communications stock traded down $0.02 during trading on Thursday, reaching $3.58. 527,022 shares of the company's stock were exchanged, compared to its average volume of 430,018. 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's 50-day moving average is $3.50 and its two-hundred day moving average is $3.93. The firm has a market cap of $632.03 million, a price-to-earnings ratio of -11.19 and a beta of 1.36. Ribbon Communications Inc. has a 52-week low of $2.75 and a 52-week 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) EPS for the quarter, missing the consensus estimate 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 company had revenue of $181.28 million for the quarter, compared to the consensus estimate of $191.66 million. During the same period in the previous year, the business posted ($0.01) EPS. The business's revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Ribbon Communications Company Profile

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.