GSA Capital Partners LLP Decreases Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

GSA Capital Partners LLP decreased its holdings in Ribbon Communications Inc. (NASDAQ:RBBN) by 8.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 90,043 shares of the communications equipment provider’s stock after selling 8,143 shares during the period. GSA Capital Partners LLP’s holdings in Ribbon Communications were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of RBBN. Innealta Capital LLC purchased a new position in shares of Ribbon Communications in the first quarter worth about $32,000. Gladius Capital Management LP purchased a new position in shares of Ribbon Communications in the second quarter worth about $34,000. MQS Management LLC purchased a new position in shares of Ribbon Communications in the second quarter worth about $100,000. SG Americas Securities LLC increased its stake in shares of Ribbon Communications by 81.3% in the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock worth $113,000 after purchasing an additional 15,604 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Ribbon Communications in the second quarter worth about $132,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Price Performance

Shares of NASDAQ:RBBN opened at $3.90 on Friday. The company has a 50 day moving average of $3.49 and a 200 day moving average of $3.30. The stock has a market cap of $683.98 million, a P/E ratio of -12.19 and a beta of 1.08. Ribbon Communications Inc. has a 12 month low of $2.05 and a 12 month high of $4.31. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $210.00 million for the quarter, compared to analysts’ expectations of $212.17 million. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. Ribbon Communications’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, sell-side analysts forecast that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

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.