Ribbon Communications Inc. $RBBN Shares Sold by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY cut its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 3.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,036,335 shares of the communications equipment provider’s stock after selling 286,963 shares during the period. Ribbon Communications accounts for approximately 0.7% of Paradigm Capital Management Inc. NY’s holdings, making the stock its 27th biggest holding. Paradigm Capital Management Inc. NY owned approximately 4.56% of Ribbon Communications worth $17,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Ribbon Communications in the 1st quarter worth $26,000. Kathmere Capital Management LLC purchased a new stake in Ribbon Communications during the fourth quarter valued at about $29,000. Indivisible Partners acquired a new stake in Ribbon Communications during the fourth quarter worth about $30,000. Mackenzie Financial Corp acquired a new stake in Ribbon Communications during the fourth quarter worth about $31,000. Finally, NewEdge Wealth LLC purchased a new position in shares of Ribbon Communications in the 1st quarter worth about $34,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RBBN. Weiss Ratings lowered Ribbon Communications from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, B. Riley Financial restated a “neutral” rating on shares of Ribbon Communications in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.58.

Ribbon Communications Stock Down 0.5%

Shares of NASDAQ RBBN opened at $2.01 on Friday. Ribbon Communications Inc. has a 12-month low of $1.80 and a 12-month high of $4.24. The company has a market cap of $354.04 million, a P/E ratio of 11.82 and a beta of 1.34. The company has a current ratio of 1.37, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $2.52 and a 200 day moving average price of $2.47.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Tuesday, April 28th. The communications equipment provider reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $162.61 million for the quarter, compared to analyst estimates of $163.43 million. Ribbon Communications had a return on equity of 24.14% and a net margin of 3.80%.The firm’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. Research analysts anticipate that Ribbon Communications Inc. will post 0.02 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.