Ribbon Communications Inc. (NASDAQ:RBBN) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 31.8% during the second quarter, Holdings Channel.com reports. The fund owned 109,158 shares of the communications equipment provider’s stock after selling 50,856 shares during the period. Assenagon Asset Management S.A.’s holdings in Ribbon Communications were worth $359,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Ribbon Communications during the first quarter worth approximately $32,000. Pacific Ridge Capital Partners LLC lifted its position in shares of Ribbon Communications by 7.1% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 148,591 shares of the communications equipment provider’s stock valued at $475,000 after buying an additional 9,822 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Ribbon Communications by 30.1% during the 1st quarter. GSA Capital Partners LLP now owns 245,543 shares of the communications equipment provider’s stock valued at $786,000 after buying an additional 56,829 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Ribbon Communications by 79.1% in 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 period. Finally, SG Capital Management LLC increased its holdings in 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 worth $256,000 after acquiring an additional 4,449 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RBBN shares. JMP Securities started coverage on shares of Ribbon Communications in a report on Monday, April 29th. They set a “mkt outperform” rating and a $6.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price target on shares of Ribbon Communications in a research note on Thursday, July 25th.

Ribbon Communications Stock Up 4.6 %

NASDAQ RBBN opened at $3.38 on Friday. Ribbon Communications Inc. has a one year low of $1.78 and a one year 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 business has a fifty day moving average price of $3.27 and a 200 day moving average price of $3.13. The company has a market cap of $587.82 million, a P/E ratio of -9.66 and a beta of 1.08.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $192.62 million during the quarter, compared to analyst estimates of $203.05 million. Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. During the same quarter last year, the company earned $0.01 earnings per share. Research analysts anticipate that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal 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.