Ribbon Communications Inc. (NASDAQ:RBBN) shares owned by Russell Investments Group Ltd. | Panda Anku


Russell Investments Group Ltd. increased its position in shares of Ribbon Communications Inc. (NASDAQ:RBBN – Get Rating) by 22.2% in the first quarter, according to its recent filing on Form 13F with the Securities & Exchange Commission. The company owned 131,118 shares of the communications equipment maker after purchasing an additional 23,806 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Ribbon Communications, valued at $403,000 at the time of its most recent SEC filing.

A number of other institutional investors and hedge funds recently changed their holdings in the company. Palisade Capital Management LLC NJ increased its stake in Ribbon Communications by 3.8% during the fourth quarter. Palisade Capital Management LLC NJ now owns 67,500 shares of the communications equipment provider valued at $408,000 after purchasing an additional 2,500 shares during the period. Campbell & CO Investment Adviser LLC increased its stake in Ribbon Communications by 8.8% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 35,900 shares of the communications equipment provider, valued at $217,000, after purchasing an additional 2,900 shares during the period. The Teacher Retirement System of Texas increased its stake in Ribbon Communications by 22.0% in the fourth quarter. Teacher Retirement System of Texas now owns 18,579 shares of the communications equipment supplier, valued at $112,000, after purchasing an additional 3,353 shares during the period. Wedbush Securities Inc. increased its stake in Ribbon Communications by 38.9% during the first quarter. Wedbush Securities Inc. now owns 23,609 shares of the communications equipment supplier, valued at $73,000, having purchased an additional 6,609 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in Ribbon Communications valued at approximately $62,000 during the fourth quarter. Institutional investors and hedge funds own 66.08% of the company’s shares.

Insider buying and selling on Ribbon Communications

In related news, major shareholder Swarth Investments Ltd. purchased 1,639,344 shares of the company’s shares in one transaction on Tuesday, August 16. The stock was purchased at an average price of $3.05 per share for a total transaction of $4,999,999.20. Following the acquisition, the insider now directly owns 27,435,739 shares of the company’s stock valued at $83,679,003.95. The transaction was disclosed in a filing with the Securities & Exchange Commission available at this link. 1.77% of the shares are owned by company insiders.

Analysts set new price targets

RBBN has been the subject of several research analyst reports. StockNews.com downgraded Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. B. Riley lowered its price target for Ribbon Communications from $8.00 to $7.00 in a research note on Thursday, April 28.

Ribbon Communications stock down 2.8%

NASDAQ:RBBN shares opened at $3.43 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.20 and a debt to equity ratio of 0.70. The company has a 50-day moving average of $3.19 and a 200-day moving average of $3.20. The stock has a market cap of $516.06 million, a P/E of -1.99 and a beta of 0.95. Ribbon Communications Inc. has a 52-week low of $2.57 and a 52-week high of $6.85.

Ribbon Communications Company Profile

(received rating)

Ribbon Communications Inc provides communications technology in the United States, Europe, Middle East, Africa, Asia Pacific and internationally. It operates in two segments: Cloud and Edge and Optical IP Networks. The Cloud and Edge segment offers software and hardware products; and solutions and services to enable voice over Internet Protocol communications, voice over long-term evolution and voice over 5G communications, and unified communications and collaboration.

Selected Stories

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



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