Paradigm Capital Management Inc. NY Makes New Investment in Ribbon Communications Inc. $RBBN

Paradigm Capital Management Inc. NY purchased a new position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,036,398 shares of the communications equipment provider’s stock, valued at approximately $7,105,000.

A number of other hedge funds have also made changes to their positions in RBBN. AQR Capital Management LLC bought a new position in shares of Ribbon Communications in the 1st quarter valued at approximately $805,000. Dynamic Technology Lab Private Ltd acquired a new stake in Ribbon Communications in the 1st quarter worth approximately $124,000. Jane Street Group LLC boosted its position in Ribbon Communications by 436.9% during the first quarter. Jane Street Group LLC now owns 101,211 shares of the communications equipment provider’s stock worth $397,000 after purchasing an additional 82,361 shares during the period. Strs Ohio bought a new stake in Ribbon Communications during the first quarter worth approximately $69,000. Finally, Creative Planning grew its holdings in Ribbon Communications by 64.8% during the second quarter. Creative Planning now owns 24,621 shares of the communications equipment provider’s stock valued at $99,000 after purchasing an additional 9,682 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RBBN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Ribbon Communications in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. B. Riley Financial upgraded shares of Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 target price on the stock in a research note on Wednesday, July 29th. CL King set a $3.30 target price on shares of Ribbon Communications in a report on Wednesday, July 29th. Finally, Rosenblatt Securities cut their target price on shares of Ribbon Communications from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.52.

Ribbon Communications Stock Performance

RBBN opened at $2.04 on Tuesday. The firm has a market capitalization of $364.80 million, a P/E ratio of 25.50 and a beta of 1.36. The stock’s 50 day moving average price is $2.20 and its two-hundred day moving average price is $2.37. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.82. Ribbon Communications Inc. has a 12-month low of $1.80 and a 12-month high of $4.24.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Ribbon Communications had a return on equity of 19.91% and a net margin of 1.96%.The business had revenue of $192.34 million for the quarter, compared to analyst estimates of $189.99 million. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was down 13.0% compared to the same quarter last year. On average, equities analysts forecast that Ribbon Communications Inc. will post -0.05 earnings per share for the current year.

About Ribbon Communications

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.