75,400 Shares in Ribbon Communications Inc. (NASDAQ:RBBN) Acquired by Bailard Inc.

Bailard Inc. purchased a new stake in Ribbon Communications Inc. (NASDAQ:RBBN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,400 shares of the communications equipment provider’s stock, valued at approximately $314,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in shares of Ribbon Communications in the 3rd quarter valued at $34,000. SG Americas Securities LLC lifted its position in Ribbon Communications by 14.7% in the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock valued at $166,000 after acquiring an additional 5,122 shares during the last quarter. Barclays PLC boosted its stake in Ribbon Communications by 153.4% in the third quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock valued at $553,000 after acquiring an additional 102,969 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Ribbon Communications by 9.9% during the fourth quarter. Rhumbline Advisers now owns 155,694 shares of the communications equipment provider’s stock worth $648,000 after purchasing an additional 13,990 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in shares of Ribbon Communications during the fourth quarter worth about $844,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RBBN shares. Northland Securities boosted their target price on Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. StockNews.com downgraded Ribbon Communications from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. JMP Securities restated a “market outperform” rating and set a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, February 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price target on shares of Ribbon Communications in a research report on Monday, December 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Ribbon Communications has an average rating of “Buy” and a consensus price target of $6.00.

Ribbon Communications Stock Up 4.2 %

Ribbon Communications stock opened at $4.50 on Thursday. The stock has a 50 day moving average of $4.29 and a two-hundred day moving average of $3.82. Ribbon Communications Inc. has a twelve month low of $2.47 and a twelve month high of $5.38. The stock has a market capitalization of $789.23 million, a price-to-earnings ratio of -14.06 and a beta of 1.11. 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 results 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%. As a group, research analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share for the current 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.