Voya Investment Management LLC Cuts Stock Position in Ribbon Communications Inc. (NASDAQ:RBBN)

Voya Investment Management LLC decreased its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 3.1% in the fourth quarter, HoldingsChannel reports. The fund owned 115,962 shares of the communications equipment provider’s stock after selling 3,737 shares during the quarter. Voya Investment Management LLC’s holdings in Ribbon Communications were worth $482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RBBN. Barclays PLC boosted its position in shares of Ribbon Communications by 153.4% in the 3rd quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock worth $553,000 after purchasing an additional 102,969 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Ribbon Communications by 14.7% during 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 in the last quarter. Inspire Investing LLC purchased a new position in shares of Ribbon Communications in the 4th quarter valued at approximately $844,000. Rhumbline Advisers grew its position in Ribbon Communications by 9.9% during the 4th 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, Bailard Inc. acquired a new position in Ribbon Communications during the 4th quarter valued at approximately $314,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Ribbon Communications Stock Up 0.6 %

NASDAQ RBBN opened at $3.15 on Friday. Ribbon Communications Inc. has a one year low of $2.75 and a one year high of $5.38. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The business has a fifty day moving average price of $3.67 and a 200 day moving average price of $3.96. The company has a market cap of $556.11 million, a P/E ratio of -9.84 and a beta of 1.36.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Tuesday, April 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). The company had revenue of $181.28 million during the quarter, compared to analyst estimates of $191.66 million. Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. Ribbon Communications’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) EPS. Research analysts anticipate that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

RBBN has been the subject of several research reports. StockNews.com downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. JMP Securities reissued a “market outperform” rating and issued a $6.00 price objective on shares of Ribbon Communications in a report on Thursday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.50 target price on shares of Ribbon Communications in a report on Wednesday, April 30th. Finally, B. Riley decreased their price target on Ribbon Communications from $7.50 to $6.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ribbon Communications presently has a consensus rating of “Moderate Buy” and an average target price of $5.88.

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.