Gladius Capital Management LP Acquires New Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

Gladius Capital Management LP bought a new position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,249 shares of the communications equipment provider’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RBBN. SG Capital Management LLC lifted its stake in shares of Ribbon Communications by 5.3% during the 4th quarter. SG Capital Management LLC now owns 88,110 shares of the communications equipment provider’s stock worth $256,000 after purchasing an additional 4,449 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Ribbon Communications by 2.1% in the 4th quarter. Federated Hermes Inc. now owns 425,621 shares of the communications equipment provider’s stock valued at $1,234,000 after buying an additional 8,671 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Ribbon Communications by 7.1% in 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. SG Americas Securities LLC grew its position in shares of Ribbon Communications by 24.7% in the 4th quarter. SG Americas Securities LLC now owns 50,197 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 9,943 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Ribbon Communications during the 1st quarter worth approximately $32,000. Institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JMP Securities started coverage on Ribbon Communications in a research report on Monday, April 29th. They set a “mkt outperform” rating and a $6.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 target price on shares of Ribbon Communications in a research report on Thursday, July 25th. Finally, B. Riley raised their price target on Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a report on Thursday, April 25th.

Ribbon Communications Stock Performance

Shares of RBBN stock traded up $0.09 during mid-day trading on Friday, reaching $3.20. The stock had a trading volume of 263,364 shares, compared to its average volume of 470,200. Ribbon Communications Inc. has a 1-year low of $1.78 and a 1-year high of $3.95. The firm has a market cap of $558.50 million, a price-to-earnings ratio of -9.14 and a beta of 1.08. The company has a current ratio of 1.48, a quick ratio of 1.19 and a debt-to-equity ratio of 0.82. The business’s fifty day moving average is $3.24 and its 200-day moving average is $3.12.

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