Metropolitan Life Insurance Co. NY raised its position in shares of Sonus Networks, Inc. (NASDAQ:SONS) by 13.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,918 shares of the communications equipment provider’s stock after buying an additional 4,238 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Sonus Networks worth $230,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SONS. AQR Capital Management LLC boosted its stake in shares of Sonus Networks by 12.0% in the first quarter. AQR Capital Management LLC now owns 1,184,088 shares of the communications equipment provider’s stock worth $7,803,000 after buying an additional 126,869 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sonus Networks by 2,607.2% in the first quarter. JPMorgan Chase & Co. now owns 1,018,573 shares of the communications equipment provider’s stock worth $6,713,000 after buying an additional 980,948 shares during the period. Central Securities Corp boosted its stake in shares of Sonus Networks by 60.4% in the first quarter. Central Securities Corp now owns 750,000 shares of the communications equipment provider’s stock worth $4,943,000 after buying an additional 282,388 shares during the period. First Trust Advisors LP boosted its stake in shares of Sonus Networks by 20.8% in the first quarter. First Trust Advisors LP now owns 3,532,672 shares of the communications equipment provider’s stock worth $23,280,000 after buying an additional 607,662 shares during the period. Finally, Profund Advisors LLC boosted its stake in shares of Sonus Networks by 21.8% in the first quarter. Profund Advisors LLC now owns 74,691 shares of the communications equipment provider’s stock worth $492,000 after buying an additional 13,373 shares during the period. 68.66% of the stock is owned by institutional investors and hedge funds.

Shares of Sonus Networks, Inc. (NASDAQ:SONS) traded down 0.43% during mid-day trading on Tuesday, hitting $6.88. 13,210 shares of the stock were exchanged. Sonus Networks, Inc. has a 52-week low of $5.51 and a 52-week high of $8.86. The company’s market cap is $341.84 million. The stock’s 50-day moving average price is $7.13 and its 200-day moving average price is $7.03.

Sonus Networks (NASDAQ:SONS) last released its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. Sonus Networks had a negative return on equity of 6.18% and a negative net margin of 12.15%. The company had revenue of $55.70 million during the quarter, compared to the consensus estimate of $53.93 million. During the same quarter last year, the company earned $0.08 earnings per share. Sonus Networks’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities research analysts anticipate that Sonus Networks, Inc. will post $0.25 earnings per share for the current fiscal year.

WARNING: This piece was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2017/08/29/metropolitan-life-insurance-co-ny-raises-position-in-sonus-networks-inc-sons.html.

SONS has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Sonus Networks from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Wednesday, August 9th. DA Davidson raised shares of Sonus Networks from a “neutral” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Monday, August 7th. Northland Securities set a $10.00 price objective on shares of Sonus Networks and gave the stock a “buy” rating in a research note on Tuesday, July 4th. William Blair reissued a “hold” rating on shares of Sonus Networks in a research note on Monday, May 1st. Finally, B. Riley reissued a “neutral” rating and issued a $7.75 price objective on shares of Sonus Networks in a research note on Sunday, July 2nd. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.57.

Sonus Networks Company Profile

Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.

Want to see what other hedge funds are holding SONS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonus Networks, Inc. (NASDAQ:SONS).

Institutional Ownership by Quarter for Sonus Networks (NASDAQ:SONS)

Receive News & Stock Ratings for Sonus Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonus Networks Inc. and related stocks with our FREE daily email newsletter.