Sanctuary Advisors LLC Acquires New Shares in Ribbon Communications Inc. (NASDAQ:RBBN)

Sanctuary Advisors LLC bought a new position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 42,234 shares of the communications equipment provider’s stock, valued at approximately $132,000.

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

Wall Street Analysts Forecast Growth

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

Ribbon Communications Stock Performance

Shares of Ribbon Communications stock opened at $3.40 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. The firm has a market cap of $593.40 million, a price-to-earnings ratio of -10.63 and a beta of 1.09. Ribbon Communications Inc. has a one year low of $1.78 and a one year high of $3.95. The stock’s 50-day moving average is $3.19 and its 200-day moving average is $3.16.

Ribbon Communications (NASDAQ:RBBN) last released its 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). Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. The firm had revenue of $192.62 million during the quarter, compared to the consensus estimate of $203.05 million. During the same quarter in the previous year, the firm posted $0.01 EPS. Equities analysts predict that Ribbon Communications Inc. will post 0.13 earnings per share for the current fiscal 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.