Russell Investments Group Ltd. Boosts Stock Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Russell Investments Group Ltd. increased its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) by 323.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,108 shares of the communications equipment provider's stock after buying an additional 120,743 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Ribbon Communications worth $658,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in Ribbon Communications during the 4th quarter worth approximately $64,000. Inceptionr LLC acquired a new stake in Ribbon Communications during the 4th quarter worth approximately $104,000. SG Americas Securities LLC lifted its position in Ribbon Communications by 14.7% during the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider's stock worth $166,000 after acquiring an additional 5,122 shares during the period. Wells Fargo & Company MN lifted its position in Ribbon Communications by 24.6% during the 4th quarter. Wells Fargo & Company MN now owns 59,401 shares of the communications equipment provider's stock worth $247,000 after acquiring an additional 11,715 shares during the period. Finally, Bailard Inc. acquired a new stake in Ribbon Communications during the 4th quarter worth approximately $314,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com cut Ribbon Communications from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 31st. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 price objective on shares of Ribbon Communications in a research report on Monday, December 30th. Finally, JMP Securities reissued a "market outperform" rating and issued a $6.00 price target on shares of Ribbon Communications in a report on Thursday, February 13th.

Ribbon Communications Price Performance

Shares of RBBN traded up $0.07 during mid-day trading on Monday, hitting $3.68. The company's stock had a trading volume of 420,578 shares, compared to its average volume of 400,133. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The firm has a 50-day simple moving average of $3.93 and a 200 day simple moving average of $3.98. The firm has a market capitalization of $647.43 million, a P/E ratio of -11.50 and a beta of 1.37. Ribbon Communications Inc. has a 1-year low of $2.75 and a 1-year high of $5.38.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. Analysts predict that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal 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.