GSA Capital Partners LLP Boosts Position in Ribbon Communications Inc. (NASDAQ:RBBN)

GSA Capital Partners LLP raised its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 30.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 245,543 shares of the communications equipment provider’s stock after purchasing an additional 56,829 shares during the period. GSA Capital Partners LLP owned 0.14% of Ribbon Communications worth $786,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in 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 purchasing an additional 19,346 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Ribbon Communications by 19.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 160,014 shares of the communications equipment provider’s stock valued at $512,000 after buying an additional 26,571 shares in the last quarter. SG Capital Management LLC boosted its holdings in shares of Ribbon Communications by 5.3% in the 4th quarter. SG Capital Management LLC now owns 88,110 shares of the communications equipment provider’s stock valued at $256,000 after buying an additional 4,449 shares in the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Ribbon Communications by 43.4% in the 4th quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock valued at $1,859,000 after buying an additional 193,829 shares in the last quarter. Finally, Brown Advisory Inc. bought a new stake in shares of Ribbon Communications in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Stock Performance

Shares of NASDAQ RBBN opened at $3.71 on Friday. Ribbon Communications Inc. has a 12 month low of $1.78 and a 12 month high of $3.80. The company has a 50 day simple moving average of $3.15 and a two-hundred day simple moving average of $3.06.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, April 24th. The communications equipment provider reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.32%. The business had revenue of $179.66 million during the quarter, compared to analysts’ expectations of $184.22 million. Equities research analysts forecast that Ribbon Communications Inc. will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RBBN shares. Rosenblatt Securities initiated coverage on shares of Ribbon Communications in a report on Thursday. They issued a “buy” rating and a $5.00 price target on the stock. B. Riley lifted their target price on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, JMP Securities initiated coverage on shares of Ribbon Communications in a research note on Monday, April 29th. They issued a “mkt outperform” rating and a $6.00 target price for the company. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $5.75.

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.