Emerald Acquisition Ltd. acquired a new position in Sonus Networks Inc. (NASDAQ:SONS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 316,263 shares of the company’s stock, valued at approximately $2,748,000. Emerald Acquisition Ltd. owned 0.64% of Sonus Networks at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Springbok Capital Management LLC increased its position in shares of Sonus Networks by 42.0% in the first quarter. Springbok Capital Management LLC now owns 23,125 shares of the company’s stock worth $174,000 after buying an additional 6,841 shares during the period. First Midwest Bank Trust Division increased its position in shares of Sonus Networks by 43.8% in the second quarter. First Midwest Bank Trust Division now owns 25,580 shares of the company’s stock worth $222,000 after buying an additional 7,795 shares during the period. KBC Group NV increased its position in shares of Sonus Networks by 202.8% in the second quarter. KBC Group NV now owns 54,945 shares of the company’s stock worth $477,000 after buying an additional 36,802 shares during the period. Swiss National Bank increased its position in shares of Sonus Networks by 11.3% in the second quarter. Swiss National Bank now owns 80,974 shares of the company’s stock worth $704,000 after buying an additional 8,200 shares during the period. Finally, Menta Capital LLC increased its position in shares of Sonus Networks by 77.4% in the first quarter. Menta Capital LLC now owns 97,195 shares of the company’s stock worth $732,000 after buying an additional 42,400 shares during the period. 68.22% of the stock is owned by institutional investors.
Sonus Networks Inc. (NASDAQ:SONS) traded down 1.63% during trading on Monday, hitting $8.46. The company had a trading volume of 227,842 shares. The stock’s market capitalization is $417.86 million. The firm’s 50 day moving average is $8.65 and its 200-day moving average is $8.40. Sonus Networks Inc. has a 52-week low of $5.15 and a 52-week high of $10.00.
Sonus Networks (NASDAQ:SONS) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.05. The firm earned $60.90 million during the quarter, compared to analysts’ expectations of $59.67 million. Sonus Networks had a negative net margin of 1.80% and a positive return on equity of 1.75%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS. On average, equities analysts forecast that Sonus Networks Inc. will post $0.38 earnings per share for the current year.
A number of equities analysts recently commented on the stock. B. Riley downgraded shares of Sonus Networks from a “buy” rating to a “neutral” rating and set a $10.25 price objective for the company. in a research note on Tuesday, July 26th. Zacks Investment Research downgraded Sonus Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. William Blair reaffirmed a “hold” rating on shares of Sonus Networks in a research report on Tuesday, June 14th. TheStreet raised Sonus Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Finally, DA Davidson started coverage on Sonus Networks in a research report on Wednesday, July 20th. They set a “buy” rating and a $12.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $10.50.
Sonus Networks Company Profile
Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers (telecommunications, wireless and cable service providers) and enterprises. The Company’s products include session border controllers (SBCs), diameter signaling controllers (DSCs), policy/routing servers, network intelligence applications (VellOS), which is designed to network-wide security and other cloud network exchange services, media and signaling gateways and network analytics tools.
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