Connor Clark & Lunn Investment Management Ltd. Increases Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Ribbon Communications Inc. (NASDAQ:RBBN) by 62.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 675,265 shares of the communications equipment provider’s stock after acquiring an additional 258,909 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.39% of Ribbon Communications worth $2,809,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Inceptionr LLC bought a new position in shares of Ribbon Communications during the 4th quarter valued at about $104,000. Victory Capital Management Inc. grew its position in Ribbon Communications by 10.2% during the fourth quarter. Victory Capital Management Inc. now owns 555,839 shares of the communications equipment provider’s stock valued at $2,312,000 after acquiring an additional 51,336 shares during the last quarter. Bailard Inc. bought a new position in Ribbon Communications during the fourth quarter valued at approximately $314,000. Rhumbline Advisers lifted its holdings in shares of Ribbon Communications by 9.9% in the 4th quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider’s stock worth $648,000 after acquiring an additional 13,990 shares during the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of Ribbon Communications in the 4th quarter valued at $844,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Stock Performance

Ribbon Communications stock opened at $3.95 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The firm has a market cap of $694.11 million, a P/E ratio of -12.34 and a beta of 1.23. Ribbon Communications Inc. has a 1-year low of $2.47 and a 1-year high of $5.38. The firm has a 50-day moving average of $4.27 and a 200-day moving average of $3.85.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. Sell-side analysts expect that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on RBBN shares. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 target price on shares of Ribbon Communications in a research report on Monday, December 30th. Northland Securities lifted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. StockNews.com upgraded Ribbon Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $6.00 price target on shares of Ribbon Communications in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $6.00.

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.