Connor Clark & Lunn Investment Management Ltd. Has $1.35 Million Stake in Ribbon Communications Inc. (NASDAQ:RBBN)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Ribbon Communications Inc. (NASDAQ:RBBN) by 12.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 416,356 shares of the communications equipment provider’s stock after acquiring an additional 46,476 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ribbon Communications were worth $1,353,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. raised its position in shares of Ribbon Communications by 2.4% in the second quarter. Panagora Asset Management Inc. now owns 195,509 shares of the communications equipment provider’s stock valued at $643,000 after purchasing an additional 4,553 shares during the period. XTX Topco Ltd raised its holdings in Ribbon Communications by 6.3% in the 2nd quarter. XTX Topco Ltd now owns 79,802 shares of the communications equipment provider’s stock worth $263,000 after acquiring an additional 4,746 shares during the period. Rhumbline Advisers raised its holdings in Ribbon Communications by 4.6% in the 2nd quarter. Rhumbline Advisers now owns 152,619 shares of the communications equipment provider’s stock worth $502,000 after acquiring an additional 6,668 shares during the period. Gladius Capital Management LP acquired a new position in Ribbon Communications during the 2nd quarter worth $34,000. Finally, SG Americas Securities LLC boosted its holdings in Ribbon Communications by 81.3% during the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock valued at $113,000 after acquiring an additional 15,604 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Ribbon Communications Trading Up 0.3 %

Shares of Ribbon Communications stock opened at $3.87 on Wednesday. Ribbon Communications Inc. has a 1 year low of $2.06 and a 1 year high of $4.31. The company’s fifty day simple moving average is $3.52 and its 200-day simple moving average is $3.32. The company has a market cap of $678.74 million, a price-to-earnings ratio of -12.06 and a beta of 1.08. 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 posted its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $210.00 million for the quarter, compared to the consensus estimate of $212.17 million. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, sell-side analysts expect that Ribbon Communications Inc. will post 0.13 EPS for the current year.

Analyst Ratings Changes

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

About Ribbon Communications

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.