Menta Capital LLC Sells 64,237 Shares of Ribbon Communications Inc (RBBN)

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Menta Capital LLC lowered its stake in Ribbon Communications Inc (NASDAQ:RBBN) by 74.7% during the fourth quarter, Holdings Channel reports. The fund owned 21,771 shares of the communications equipment provider’s stock after selling 64,237 shares during the period. Menta Capital LLC’s holdings in Ribbon Communications were worth $105,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RBBN. PEAK6 Investments LLC acquired a new stake in shares of Ribbon Communications in the fourth quarter valued at about $59,000. Prudential Financial Inc. increased its position in shares of Ribbon Communications by 23.3% in the fourth quarter. Prudential Financial Inc. now owns 15,666 shares of the communications equipment provider’s stock valued at $76,000 after acquiring an additional 2,963 shares during the last quarter. Citigroup Inc. grew its holdings in Ribbon Communications by 17.5% during the fourth quarter. Citigroup Inc. now owns 17,753 shares of the communications equipment provider’s stock worth $86,000 after purchasing an additional 2,642 shares during the period. Victory Capital Management Inc. bought a new position in Ribbon Communications during the fourth quarter worth about $156,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Ribbon Communications by 24.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,087 shares of the communications equipment provider’s stock worth $179,000 after purchasing an additional 7,335 shares during the period. 79.80% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently commented on RBBN. BidaskClub cut Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 12th. ValuEngine upgraded Ribbon Communications from a “strong sell” rating to a “sell” rating in a report on Saturday, March 9th. Northland Securities reiterated a “buy” rating and set a $9.00 price target on shares of Ribbon Communications in a report on Tuesday, February 26th. Finally, Zacks Investment Research cut Ribbon Communications from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Ribbon Communications has an average rating of “Hold” and a consensus target price of $7.75.

Shares of RBBN stock opened at $5.23 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick ratio of 0.88. The company has a market capitalization of $550.71 million, a P/E ratio of 11.00, a P/E/G ratio of 0.81 and a beta of 1.31. Ribbon Communications Inc has a 1 year low of $4.62 and a 1 year high of $7.89.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Wednesday, February 20th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $171.81 million. Ribbon Communications had a positive return on equity of 8.59% and a negative net margin of 13.29%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, analysts predict that Ribbon Communications Inc will post 0.54 earnings per share for the current year.

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Ribbon Communications Company Profile

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.

See Also: Quiet Period Expirations

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

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