Alpha Paradigm Partners LLC Invests $385,000 in Ribbon Communications Inc. (NASDAQ:RBBN)

Alpha Paradigm Partners LLC purchased a new position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,566 shares of the communications equipment provider’s stock, valued at approximately $385,000.

Several other hedge funds also recently added to or reduced their stakes in RBBN. Swiss National Bank grew its position in shares of Ribbon Communications by 1.2% during the first quarter. Swiss National Bank now owns 166,074 shares of the communications equipment provider’s stock worth $1,363,000 after buying an additional 2,000 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Ribbon Communications by 61.9% in the first quarter. BNP Paribas Arbitrage SA now owns 35,081 shares of the communications equipment provider’s stock worth $288,000 after purchasing an additional 13,406 shares during the period. BlackRock Inc. boosted its holdings in Ribbon Communications by 10.1% in the first quarter. BlackRock Inc. now owns 6,732,179 shares of the communications equipment provider’s stock worth $55,272,000 after purchasing an additional 616,448 shares during the period. New York State Common Retirement Fund boosted its holdings in Ribbon Communications by 24.4% in the first quarter. New York State Common Retirement Fund now owns 57,700 shares of the communications equipment provider’s stock worth $474,000 after purchasing an additional 11,300 shares during the period. Finally, UBS Group AG boosted its holdings in Ribbon Communications by 143.7% in the first quarter. UBS Group AG now owns 33,075 shares of the communications equipment provider’s stock worth $271,000 after purchasing an additional 19,504 shares during the period. 66.40% of the stock is owned by institutional investors and hedge funds.

Ribbon Communications stock opened at $6.25 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.44 and a quick ratio of 1.28. The company has a market cap of $925.71 million, a PE ratio of 9.06 and a beta of 1.08. Ribbon Communications Inc. has a 12 month low of $3.62 and a 12 month high of $11.25. The company has a fifty day moving average price of $6.39 and a two-hundred day moving average price of $7.15.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, July 28th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The company had revenue of $211.21 million for the quarter, compared to analysts’ expectations of $217.40 million. Ribbon Communications had a return on equity of 24.01% and a net margin of 12.35%. Equities research analysts anticipate that Ribbon Communications Inc. will post 0.43 earnings per share for the current year.

RBBN has been the subject of a number of research reports. B. Riley decreased their price objective on shares of Ribbon Communications from $13.50 to $11.50 and set a “buy” rating for the company in a report on Thursday, July 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a report on Thursday, September 30th.

Ribbon Communications Profile

Ribbon Communications, Inc delivers communications software, IP and optical networking solutions to service providers, enterprises, and infrastructure sectors. It operates through the following segments: Cloud & Edge and IP Optical Networks. The Cloud and Edge segment provides secure and reliable software and hardware products, solutions, and services for enabling Voice over Internet Protocol (VoIP) communications, Voice over Long-Term Evolution (VoLTE) and Voice Over 5G (VoNR) communications, and Unified Communications and Collaboration (UC&C) within service provider and enterprise networks and from the cloud.

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

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