Sonus Networks, Inc. (SONS) Shares Bought by Alliancebernstein L.P.
Alliancebernstein L.P. lifted its holdings in shares of Sonus Networks, Inc. (NASDAQ:SONS) by 24.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,808 shares of the communications equipment provider’s stock after acquiring an additional 9,200 shares during the quarter. Alliancebernstein L.P. owned approximately 0.09% of Sonus Networks worth $348,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of SONS. Capital Investment Advisors LLC bought a new position in shares of Sonus Networks during the 2nd quarter worth approximately $106,000. Federated Investors Inc. PA boosted its stake in shares of Sonus Networks by 26.1% during the 2nd quarter. Federated Investors Inc. PA now owns 19,960 shares of the communications equipment provider’s stock worth $149,000 after acquiring an additional 4,133 shares during the period. American International Group Inc. boosted its stake in shares of Sonus Networks by 7.0% during the 1st quarter. American International Group Inc. now owns 29,368 shares of the communications equipment provider’s stock worth $194,000 after acquiring an additional 1,930 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Sonus Networks by 13.8% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 34,918 shares of the communications equipment provider’s stock worth $230,000 after acquiring an additional 4,238 shares during the period. Finally, IndexIQ Advisors LLC bought a new position in shares of Sonus Networks during the 2nd quarter worth approximately $534,000. Institutional investors own 67.77% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This story was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/11/09/sonus-networks-inc-sons-shares-bought-by-alliancebernstein-l-p.html.
Shares of Sonus Networks, Inc. (NASDAQ SONS) opened at $7.22 on Thursday. Sonus Networks, Inc. has a one year low of $5.60 and a one year high of $9.05.
Sonus Networks (NASDAQ:SONS) last released its quarterly earnings results on Monday, October 30th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The business had revenue of $74.60 million during the quarter, compared to the consensus estimate of $68.50 million. Sonus Networks had a negative return on equity of 1.87% and a negative net margin of 8.82%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. research analysts forecast that Sonus Networks, Inc. will post 0.09 EPS for the current fiscal year.
Several research analysts have recently commented on the company. William Blair reiterated a “buy” rating on shares of Sonus Networks in a research note on Monday, October 30th. TheStreet upgraded Sonus Networks from a “d+” rating to a “c” rating in a research note on Monday, October 23rd. Zacks Investment Research downgraded Sonus Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Cowen and Company reiterated a “sell” rating on shares of Sonus Networks in a research note on Tuesday, October 17th. Finally, BidaskClub downgraded Sonus Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $8.64.
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).
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.