Ribbon Communications Inc. (NASDAQ:RBBN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in Ribbon Communications Inc. (NASDAQ:RBBN) by 1.6% in the second quarter, Holdings Channel reports. The fund owned 316,426 shares of the communications equipment provider’s stock after selling 5,118 shares during the period. Victory Capital Management Inc.’s holdings in Ribbon Communications were worth $1,041,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Panagora Asset Management Inc. purchased a new position in Ribbon Communications during the fourth quarter worth approximately $296,000. GSA Capital Partners LLP increased its stake in shares of Ribbon Communications by 30.1% in the 1st quarter. GSA Capital Partners LLP now owns 245,543 shares of the communications equipment provider’s stock worth $786,000 after acquiring an additional 56,829 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Ribbon Communications by 7.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 434,204 shares of the communications equipment provider’s stock worth $1,429,000 after acquiring an additional 31,644 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Ribbon Communications by 79.1% during the 1st quarter. BNP Paribas Financial Markets now owns 43,790 shares of the communications equipment provider’s stock valued at $140,000 after acquiring an additional 19,346 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new stake in shares of Ribbon Communications in the fourth quarter valued at about $33,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 target price on shares of Ribbon Communications in a research note on Thursday, July 25th.

Ribbon Communications Trading Down 1.9 %

Shares of Ribbon Communications stock opened at $3.05 on Friday. The stock has a 50 day moving average of $3.23 and a 200 day moving average of $3.12. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.19 and a current ratio of 1.48. The firm has a market capitalization of $530.43 million, a price-to-earnings ratio of -8.71 and a beta of 1.09. Ribbon Communications Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $3.95.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $192.62 million for the quarter, compared to analysts’ expectations of $203.05 million. Ribbon Communications had a positive return on equity of 5.32% and a negative net margin of 6.68%. During the same quarter in the prior year, the company posted $0.01 earnings per share. As a group, research analysts predict that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

Ribbon Communications 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.