Ribbon Communications Inc. $RBBN Position Boosted by First Eagle Investment Management LLC

First Eagle Investment Management LLC raised its holdings in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 16.5% during the 2nd quarter, Holdings Channel reports. The fund owned 1,025,914 shares of the communications equipment provider’s stock after purchasing an additional 145,159 shares during the period. First Eagle Investment Management LLC’s holdings in Ribbon Communications were worth $4,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Savant Capital LLC acquired a new position in shares of Ribbon Communications during the second quarter valued at $52,000. TIAA Trust National Association bought a new position in Ribbon Communications in the 2nd quarter valued at about $60,000. Teacher Retirement System of Texas grew its position in Ribbon Communications by 35.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 72,022 shares of the communications equipment provider’s stock valued at $289,000 after buying an additional 19,013 shares in the last quarter. Almanack Investment Partners LLC. acquired a new position in Ribbon Communications during the 2nd quarter valued at about $58,000. Finally, Ballentine Partners LLC bought a new stake in shares of Ribbon Communications during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insiders Place Their Bets

In related news, Director Beatriz V. Infante sold 8,690 shares of Ribbon Communications stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $3.98, for a total value of $34,586.20. Following the transaction, the director owned 343,224 shares of the company’s stock, valued at approximately $1,366,031.52. This trade represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dan Redington sold 155,434 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $4.03, for a total transaction of $626,399.02. Following the sale, the executive vice president directly owned 14,176 shares of the company’s stock, valued at $57,129.28. This represents a 91.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 198,300 shares of company stock valued at $801,173 in the last quarter. 1.72% of the stock is currently owned by corporate insiders.

Ribbon Communications Stock Performance

Ribbon Communications stock opened at $3.16 on Friday. The firm has a market cap of $558.06 million, a price-to-earnings ratio of -13.17 and a beta of 1.40. Ribbon Communications Inc. has a 1 year low of $3.01 and a 1 year high of $5.38. The firm’s 50 day moving average price is $3.75 and its two-hundred day moving average price is $3.77. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.43.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Monday, March 27th. The communications equipment provider reported $0.01 earnings per share for the quarter. The business had revenue of $100.28 million during the quarter. Ribbon Communications had a positive return on equity of 6.49% and a negative net margin of 4.96%. On average, research analysts predict that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Ribbon Communications in a research report on Wednesday, October 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $6.00 price target on shares of Ribbon Communications in a research note on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

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.