Paradigm Capital Management Inc. NY Reduces Holdings in Ribbon Communications Inc. $RBBN

Paradigm Capital Management Inc. NY reduced its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 3.4% during the first quarter, HoldingsChannel reports. The firm owned 8,036,335 shares of the communications equipment provider’s stock after selling 286,963 shares during the quarter. Ribbon Communications comprises about 0.7% of Paradigm Capital Management Inc. NY’s holdings, making the stock its 27th largest holding. Paradigm Capital Management Inc. NY’s holdings in Ribbon Communications were 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. Royce & Associates LP lifted its stake in shares of Ribbon Communications by 7.2% in the fourth quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider’s stock worth $13,290,000 after acquiring an additional 309,271 shares in the last quarter. First Wilshire Securities Management Inc. boosted its holdings in Ribbon Communications by 11.0% in the first quarter. First Wilshire Securities Management Inc. now owns 1,407,178 shares of the communications equipment provider’s stock valued at $2,983,000 after purchasing an additional 139,592 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Ribbon Communications during the 1st quarter valued at approximately $26,000. OP Asset Management Ltd purchased a new stake in Ribbon Communications during the 1st quarter worth approximately $438,000. Finally, DGS Capital Management LLC purchased a new stake in Ribbon Communications during the 4th quarter worth approximately $36,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Ribbon Communications Stock Performance

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

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, topping analysts’ consensus estimates of ($0.06) by $0.01. Ribbon Communications had a net margin of 3.80% and a return on equity of 24.14%. The firm had revenue of $162.61 million during the quarter, compared to the consensus estimate of $163.43 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. Equities research analysts forecast that Ribbon Communications Inc. will post 0.02 EPS for the current year.

Wall Street Analyst Weigh In

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

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.