Palisade Capital Management LLC NJ Has $459,000 Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)


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Palisade Capital Management LLC NJ lessened its holdings in Ribbon Communications Inc. (NASDAQ:RBBN) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the communications equipment provider’s stock after selling 10,000 shares during the period. Palisade Capital Management LLC NJ’s holdings in Ribbon Communications were worth $459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Paradigm Capital Management Inc. NY grew its position in Ribbon Communications by 0.8% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 8,381,800 shares of the communications equipment provider’s stock worth $54,985,000 after purchasing an additional 63,600 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Ribbon Communications by 7.6% during the 4th quarter. BlackRock Inc. now owns 6,115,731 shares of the communications equipment provider’s stock valued at $40,119,000 after buying an additional 432,188 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ribbon Communications by 20.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 675,400 shares of the communications equipment provider’s stock valued at $2,614,000 after buying an additional 114,924 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Ribbon Communications by 17.1% during the 4th quarter. Bank of New York Mellon Corp now owns 475,541 shares of the communications equipment provider’s stock valued at $3,120,000 after buying an additional 69,496 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Ribbon Communications by 6.1% during the 4th quarter. First Trust Advisors LP now owns 413,676 shares of the communications equipment provider’s stock valued at $2,714,000 after buying an additional 23,739 shares in the last quarter. Institutional investors own 65.29% of the company’s stock.

NASDAQ RBBN opened at $8.00 on Monday. Ribbon Communications Inc. has a 1 year low of $1.95 and a 1 year high of $11.25. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 1.10. The stock has a market capitalization of $1.16 billion, a PE ratio of -4.85 and a beta of 1.17. The company’s 50 day simple moving average is $8.56 and its two-hundred day simple moving average is $5.96.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Tuesday, February 16th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Ribbon Communications had a negative net margin of 24.39% and a negative return on equity of 34.72%. On average, research analysts anticipate that Ribbon Communications Inc. will post -0.3 EPS for the current year.

A number of brokerages recently commented on RBBN. TheStreet upgraded shares of Ribbon Communications from a “d” rating to a “c-” rating in a research note on Thursday, November 19th. B. Riley upped their price target on shares of Ribbon Communications from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, February 18th. Finally, Zacks Investment Research upgraded shares of Ribbon Communications from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, February 24th.

In other news, CAO Eric S. Marmurek sold 8,304 shares of the firm’s stock in a transaction on Tuesday, December 8th. The shares were sold at an average price of $7.19, for a total transaction of $59,705.76. Following the sale, the chief accounting officer now owns 33,534 shares in the company, valued at approximately $241,109.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Sam Bucci sold 7,500 shares of the firm’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $8.83, for a total transaction of $66,225.00. Following the sale, the executive vice president now owns 67,947 shares in the company, valued at approximately $599,972.01. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Ribbon Communications Company Profile

Ribbon Communications Inc provides networked software solutions in the United States, Europe, the Middle East, Africa, Japan, other Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, managed intelligent edge, cloud communications as a service, and communications analytics and security solutions.

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

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