Chicago Equity Partners LLC purchased a new position in Ribbon Communications Inc. (NASDAQ:RBBN) during the fourth quarter, HoldingsChannel reports. The fund purchased 236,675 shares of the communications equipment provider’s stock, valued at approximately $1,829,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Ribbon Communications in the fourth quarter worth about $152,000. Strs Ohio purchased a new stake in shares of Ribbon Communications in the fourth quarter worth about $469,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Ribbon Communications in the fourth quarter worth about $1,705,000. Horrell Capital Management Inc. purchased a new stake in shares of Ribbon Communications in the fourth quarter worth about $2,441,000. Finally, Cowen Prime Services LLC purchased a new stake in shares of Ribbon Communications in the fourth quarter worth about $4,398,000. 31.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on RBBN shares. Zacks Investment Research raised shares of Ribbon Communications from a “hold” rating to a “strong-buy” rating and set a $8.25 price target on the stock in a report on Thursday, October 19th. Cowen reaffirmed a “sell” rating on shares of Ribbon Communications in a research note on Tuesday, October 17th. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a research note on Friday, December 8th. TheStreet raised shares of Ribbon Communications from a “d+” rating to a “c” rating in a research note on Monday, October 23rd. Finally, BidaskClub downgraded shares of Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Ribbon Communications presently has an average rating of “Hold” and an average target price of $7.25.

Shares of Ribbon Communications Inc. (NASDAQ RBBN) opened at $6.93 on Wednesday. The firm has a market cap of $711.87, a P/E ratio of -15.40, a P/E/G ratio of 1.31 and a beta of 1.67. Ribbon Communications Inc. has a one year low of $5.77 and a one year high of $9.05.

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Ribbon Communications Company Profile

Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, 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.

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Institutional Ownership by Quarter for Ribbon Communications (NASDAQ:RBBN)

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