SG Americas Securities LLC Has $113,000 Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

SG Americas Securities LLC increased its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 81.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,793 shares of the communications equipment provider’s stock after purchasing an additional 15,604 shares during the period. SG Americas Securities LLC’s holdings in Ribbon Communications were worth $113,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Ribbon Communications during the first quarter worth $32,000. Gladius Capital Management LP acquired a new stake in shares of Ribbon Communications during the second quarter worth $34,000. MQS Management LLC acquired a new stake in shares of Ribbon Communications during the second quarter worth $100,000. Sanctuary Advisors LLC acquired a new stake in shares of Ribbon Communications during the second quarter worth $132,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Ribbon Communications during the second quarter worth $137,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Ribbon Communications Stock Down 0.3 %

NASDAQ:RBBN opened at $3.70 on Friday. Ribbon Communications Inc. has a 1 year low of $1.78 and a 1 year high of $3.95. The company has a current ratio of 1.48, a quick ratio of 1.19 and a debt-to-equity ratio of 0.82. The stock has a market cap of $645.76 million, a price-to-earnings ratio of -11.56 and a beta of 1.09. The stock has a 50-day moving average price of $3.23 and a two-hundred day moving average price of $3.18.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. The business had revenue of $210.00 million during the quarter, compared to analyst estimates of $212.17 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts expect that Ribbon Communications Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.