Teachers Advisors LLC boosted its stake in shares of Sonus Networks, Inc. (NASDAQ:SONS) by 0.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,727 shares of the communications equipment provider’s stock after buying an additional 41 shares during the period. Teachers Advisors LLC’s holdings in Sonus Networks were worth $647,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in SONS. Tudor Investment Corp Et Al purchased a new stake in Sonus Networks during the fourth quarter valued at approximately $154,000. A.R.T. Advisors LLC purchased a new stake in Sonus Networks during the fourth quarter valued at approximately $556,000. Russell Investments Group Ltd. purchased a new stake in Sonus Networks during the fourth quarter valued at approximately $889,000. AQR Capital Management LLC boosted its stake in Sonus Networks by 64.9% in the fourth quarter. AQR Capital Management LLC now owns 1,057,219 shares of the communications equipment provider’s stock valued at $6,660,000 after buying an additional 416,275 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Sonus Networks by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,454,416 shares of the communications equipment provider’s stock valued at $15,463,000 after buying an additional 180,013 shares during the period. 65.31% of the stock is owned by institutional investors.
Shares of Sonus Networks, Inc. (NASDAQ:SONS) opened at 7.33 on Monday. The firm’s market capitalization is $363.00 million. Sonus Networks, Inc. has a 52 week low of $5.51 and a 52 week high of $10.00. The company’s 50 day moving average price is $7.49 and its 200-day moving average price is $6.68.
Sonus Networks (NASDAQ:SONS) last posted its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.04. The business had revenue of $53.37 million during the quarter, compared to the consensus estimate of $52.11 million. Sonus Networks had a negative return on equity of 3.80% and a negative net margin of 8.07%. Sonus Networks’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. On average, equities research analysts expect that Sonus Networks, Inc. will post $0.23 EPS for the current fiscal year.
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A number of brokerages recently commented on SONS. B. Riley reaffirmed a “neutral” rating and set a $7.75 price objective on shares of Sonus Networks in a research note on Monday, May 1st. William Blair raised Sonus Networks from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 1st. Benchmark Co. began coverage on Sonus Networks in a research note on Wednesday, April 26th. They set a “buy” rating and a $4.00 price objective for the company. Zacks Investment Research cut Sonus Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 23rd. Finally, DA Davidson cut Sonus Networks from a “buy” rating to a “neutral” rating and set a $6.50 price objective for the company. in a research note on Thursday, February 16th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $8.00.
About Sonus Networks
Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.
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