Brandes Investment Partners LP Trims Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Brandes Investment Partners LP lowered its position in Ribbon Communications Inc. (NASDAQ:RBBN) by 19.1% in the second quarter, HoldingsChannel reports. The firm owned 753,003 shares of the communications equipment provider’s stock after selling 177,776 shares during the period. Brandes Investment Partners LP’s holdings in Ribbon Communications were worth $2,378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in Ribbon Communications in the 1st quarter valued at about $32,000. Gladius Capital Management LP purchased a new stake in shares of Ribbon Communications during the 2nd quarter valued at approximately $34,000. MQS Management LLC purchased a new stake in shares of Ribbon Communications during the 2nd quarter valued at approximately $100,000. AQR Capital Management LLC acquired a new position in Ribbon Communications in the second quarter valued at approximately $137,000. Finally, BNP Paribas Financial Markets grew its position in Ribbon Communications by 79.1% in the first quarter. BNP Paribas Financial Markets now owns 43,790 shares of the communications equipment provider’s stock worth $140,000 after acquiring an additional 19,346 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Rosenblatt Securities restated a “buy” rating and issued a $5.00 target price on shares of Ribbon Communications in a research report on Wednesday, September 25th.

Ribbon Communications Stock Performance

NASDAQ:RBBN opened at $3.25 on Tuesday. Ribbon Communications Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $3.95. 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 company has a 50 day moving average price of $3.17 and a 200 day moving average price of $3.14. The stock has a market capitalization of $565.21 million, a P/E ratio of -9.29 and a beta of 1.09.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm 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 business earned $0.01 earnings per share. Equities research analysts forecast that Ribbon Communications Inc. will post 0.13 EPS 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.