White Pine Capital LLC Has $785,000 Position in Ribbon Communications Inc. (NASDAQ:RBBN)

White Pine Capital LLC reduced its stake in Ribbon Communications Inc. (NASDAQ:RBBN) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 270,521 shares of the communications equipment provider’s stock after selling 10,169 shares during the period. White Pine Capital LLC owned 0.16% of Ribbon Communications worth $785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Paradigm Capital Management Inc. NY increased its holdings in shares of Ribbon Communications by 6.8% in the third quarter. Paradigm Capital Management Inc. NY now owns 7,495,400 shares of the communications equipment provider’s stock valued at $20,088,000 after purchasing an additional 477,047 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ribbon Communications by 0.5% in the third quarter. Vanguard Group Inc. now owns 6,862,311 shares of the communications equipment provider’s stock valued at $18,391,000 after acquiring an additional 35,132 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Ribbon Communications by 18.8% in the third quarter. Brandes Investment Partners LP now owns 447,116 shares of the communications equipment provider’s stock valued at $1,198,000 after acquiring an additional 70,871 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Ribbon Communications by 2.1% in the fourth quarter. Federated Hermes Inc. now owns 425,621 shares of the communications equipment provider’s stock valued at $1,234,000 after acquiring an additional 8,671 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC acquired a new position in shares of Ribbon Communications in the fourth quarter valued at about $1,176,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RBBN has been the topic of several research reports. StockNews.com upgraded shares of Ribbon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. B. Riley upped their price target on shares of Ribbon Communications from $6.00 to $6.50 and gave the company a “buy” rating in a research note on Thursday.

Ribbon Communications Price Performance

RBBN traded down $0.11 on Friday, hitting $3.13. 589,675 shares of the stock were exchanged, compared to its average volume of 479,962. Ribbon Communications Inc. has a 12 month low of $1.78 and a 12 month high of $3.65. The business has a 50-day moving average of $2.97 and a two-hundred day moving average of $2.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.23 and a quick ratio of 1.00. The firm has a market capitalization of $537.52 million, a price-to-earnings ratio of -8.94 and a beta of 1.19.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%. The business had revenue of $226.40 million during the quarter, compared to analysts’ expectations of $233.63 million. Sell-side analysts forecast that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruns H. Grayson bought 100,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $2.89 per share, with a total value of $289,000.00. Following the completion of the acquisition, the director now owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Bruns H. Grayson bought 100,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $2.89 per share, with a total value of $289,000.00. Following the completion of the acquisition, the director now owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Dan Redington sold 34,452 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $3.10, for a total transaction of $106,801.20. Following the completion of the transaction, the executive vice president now directly owns 66,839 shares of the company’s stock, valued at approximately $207,200.90. The disclosure for this sale can be found here. Over the last quarter, insiders bought 103,000 shares of company stock valued at $297,720 and sold 66,000 shares valued at $205,119. 2.10% of the stock is currently owned by company insiders.

About Ribbon Communications

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.