Jacobs Levy Equity Management Inc. Sells 350,847 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Jacobs Levy Equity Management Inc. cut its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 46.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 409,376 shares of the communications equipment provider’s stock after selling 350,847 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.23% of Ribbon Communications worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gladius Capital Management LP bought a new stake in shares of Ribbon Communications during the 2nd quarter worth $34,000. Intech Investment Management LLC purchased a new position in shares of Ribbon Communications in the 3rd quarter worth about $34,000. MQS Management LLC bought a new position in shares of Ribbon Communications during the 2nd quarter valued at about $100,000. SG Americas Securities LLC raised its holdings in shares of Ribbon Communications by 81.3% during the 3rd quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock valued at $113,000 after buying an additional 15,604 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Ribbon Communications in the 2nd quarter worth approximately $132,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Analyst Ratings Changes

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price target on shares of Ribbon Communications in a research report on Wednesday, September 25th.

Ribbon Communications Trading Down 0.3 %

NASDAQ RBBN opened at $3.90 on Monday. The firm has a market cap of $683.98 million, a PE ratio of -12.19 and a beta of 1.14. Ribbon Communications Inc. has a 1-year low of $2.15 and a 1-year high of $4.31. The stock has a 50-day moving average of $3.66 and a 200-day moving average of $3.36. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. The company had revenue of $210.00 million during the quarter, compared to the consensus estimate of $212.17 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Ribbon Communications Inc. will post 0.13 EPS for the current year.

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.