Voya Investment Management LLC Sells 3,737 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Voya Investment Management LLC decreased its stake in Ribbon Communications Inc. (NASDAQ:RBBN) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 115,962 shares of the communications equipment provider’s stock after selling 3,737 shares during the quarter. Voya Investment Management LLC owned about 0.07% of Ribbon Communications worth $482,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RBBN. Walleye Capital LLC purchased a new position in Ribbon Communications during the fourth quarter worth $43,000. Polymer Capital Management US LLC purchased a new position in shares of Ribbon Communications during the 4th quarter worth about $55,000. Penn Capital Management Company LLC bought a new position in Ribbon Communications during the 4th quarter valued at about $56,000. Renaissance Technologies LLC purchased a new stake in Ribbon Communications in the 4th quarter worth about $59,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Ribbon Communications during the fourth quarter valued at approximately $64,000. Institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $6.00 price target on shares of Ribbon Communications in a research note on Thursday, February 13th. StockNews.com lowered shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. B. Riley reduced their price target on shares of Ribbon Communications from $7.50 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.88.

Ribbon Communications Stock Performance

Shares of Ribbon Communications stock opened at $3.15 on Friday. Ribbon Communications Inc. has a 12 month low of $2.75 and a 12 month high of $5.38. The stock’s fifty day moving average price is $3.67 and its 200-day moving average price is $3.96. The firm has a market cap of $556.11 million, a P/E ratio of -9.84 and a beta of 1.36. 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 results on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). The business had revenue of $181.28 million during the quarter, compared to analysts’ expectations of $191.66 million. Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. Ribbon Communications’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) EPS. On average, equities research analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Ribbon Communications Company Profile

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.