Connor Clark & Lunn Investment Management Ltd. Invests $5.18 Million in Ribbon Communications Inc. $RBBN

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) in the second quarter, HoldingsChannel reports. The firm bought 2,213,134 shares of the communications equipment provider’s stock, valued at approximately $5,179,000.

Several other institutional investors also recently bought and sold shares of RBBN. BlackRock Inc. bought a new stake in Ribbon Communications in the 2nd quarter valued at $16,723,000. Kennedy Capital Management LLC purchased a new stake in Ribbon Communications in the 4th quarter worth $2,047,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Ribbon Communications by 99.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 964,446 shares of the communications equipment provider’s stock valued at $3,665,000 after purchasing an additional 481,276 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Ribbon Communications by 88.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 890,168 shares of the communications equipment provider’s stock valued at $2,564,000 after purchasing an additional 418,967 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Ribbon Communications during the second quarter valued at about $889,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Ribbon Communications Stock Performance

Ribbon Communications stock opened at $2.00 on Friday. The company’s 50-day moving average price is $2.16 and its 200-day moving average price is $2.36. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.82. The company has a market cap of $357.65 million, a PE ratio of 25.00 and a beta of 1.36. Ribbon Communications Inc. has a twelve month low of $1.80 and a twelve month high of $4.24.

Ribbon Communications (NASDAQ:RBBN) last announced 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). The business had revenue of $192.34 million during the quarter, compared to the consensus estimate of $189.99 million. Ribbon Communications had a net margin of 1.96% and a return on equity of 19.91%. The firm’s revenue was down 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. On average, equities research analysts forecast that Ribbon Communications Inc. will post -0.05 EPS for the current fiscal year.

Ribbon Communications Profile

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.