Squarepoint Ops LLC Sells 78,674 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Squarepoint Ops LLC reduced its stake in Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 37.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,928 shares of the communications equipment provider's stock after selling 78,674 shares during the period. Squarepoint Ops LLC owned 0.08% of Ribbon Communications worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RBBN. First Eagle Investment Management LLC raised its stake in shares of Ribbon Communications by 1,049.5% in the 4th quarter. First Eagle Investment Management LLC now owns 819,369 shares of the communications equipment provider's stock worth $3,409,000 after buying an additional 748,090 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 last quarter. Vanguard Group Inc. lifted its position 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. Royce & Associates LP increased 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Ribbon Communications by 62.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 675,265 shares of the communications equipment provider's stock valued at $2,809,000 after acquiring an additional 258,909 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Trading Up 3.1%

NASDAQ:RBBN traded up $0.11 during trading hours on Friday, hitting $3.69. The stock had a trading volume of 678,351 shares, compared to its average volume of 432,755. The business's 50 day moving average is $3.49 and its 200-day moving average is $3.92. 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 cap of $651.45 million, a price-to-earnings ratio of -11.53 and a beta of 1.31. Ribbon Communications Inc. has a one year low of $2.75 and a one year high of $5.38.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $181.28 million during the quarter, compared to analyst estimates of $191.66 million. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The company's quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. Sell-side analysts anticipate that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

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