Cinctive Capital Management LP Acquires Shares of 524,067 Ribbon Communications Inc. $RBBN

Cinctive Capital Management LP bought a new stake in Ribbon Communications Inc. (NASDAQ:RBBN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 524,067 shares of the communications equipment provider’s stock, valued at approximately $1,991,000. Cinctive Capital Management LP owned approximately 0.30% of Ribbon Communications as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RBBN. State of Alaska Department of Revenue bought a new stake in shares of Ribbon Communications during the 3rd quarter worth $29,000. Tower Research Capital LLC TRC increased its holdings in Ribbon Communications by 453.3% during the second quarter. Tower Research Capital LLC TRC now owns 10,025 shares of the communications equipment provider’s stock worth $40,000 after buying an additional 8,213 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Ribbon Communications in the third quarter worth about $41,000. Keel Point LLC bought a new stake in shares of Ribbon Communications in the 2nd quarter worth approximately $45,000. Finally, Prudential Financial Inc. purchased a new position in Ribbon Communications in the second quarter valued at approximately $47,000. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Price Performance

RBBN stock opened at $2.17 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.19 and a current ratio of 1.44. Ribbon Communications Inc. has a 52 week low of $1.80 and a 52 week high of $4.31. The firm’s fifty day moving average is $2.43 and its 200 day moving average is $3.05. The firm has a market cap of $381.05 million, a P/E ratio of 9.86 and a beta of 1.06.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Thursday, February 5th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.48. The business had revenue of $227.32 million during the quarter, compared to analyst estimates of $241.35 million. Ribbon Communications had a net margin of 4.69% and a return on equity of 26.11%. The company’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. Research analysts predict that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RBBN shares. Rosenblatt Securities decreased their price objective on Ribbon Communications from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday, February 6th. Craig Hallum reissued a “buy” rating and set a $3.00 price objective on shares of Ribbon Communications in a research note on Wednesday, February 11th. Citizens Jmp cut their price target on shares of Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating for the company in a research note on Friday, February 6th. Northland Securities set a $4.00 price target on shares of Ribbon Communications in a report on Friday, February 6th. Finally, B. Riley Financial cut Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 target price on the stock. in a research note on Friday, February 6th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ribbon Communications currently 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.