Sonus Networks, Inc. (SONS) Shares Bought by Teachers Advisors LLC

Teachers Advisors LLC increased its stake in shares of Sonus Networks, Inc. (NASDAQ:SONS) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,217 shares of the communications equipment provider’s stock after purchasing an additional 6,872 shares during the period. Teachers Advisors LLC owned 0.20% of Sonus Networks worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in Sonus Networks during the 2nd quarter valued at about $956,000. Russell Investments Group Ltd. grew its stake in Sonus Networks by 88.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 242,832 shares of the communications equipment provider’s stock valued at $1,806,000 after acquiring an additional 113,792 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Sonus Networks by 6.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 187,180 shares of the communications equipment provider’s stock valued at $1,234,000 after acquiring an additional 10,602 shares in the last quarter. AQR Capital Management LLC grew its stake in Sonus Networks by 12.0% during the 1st quarter. AQR Capital Management LLC now owns 1,184,088 shares of the communications equipment provider’s stock valued at $7,803,000 after acquiring an additional 126,869 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in Sonus Networks by 13.8% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 34,918 shares of the communications equipment provider’s stock valued at $230,000 after acquiring an additional 4,238 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Shares of Sonus Networks, Inc. (NASDAQ:SONS) opened at $7.46 on Tuesday. Sonus Networks, Inc. has a one year low of $5.51 and a one year high of $9.05.

Sonus Networks (NASDAQ:SONS) last posted its quarterly earnings results on Monday, October 30th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.08. Sonus Networks had a negative net margin of 8.82% and a negative return on equity of 1.87%. The business had revenue of $74.60 million during the quarter, compared to analysts’ expectations of $68.50 million. During the same quarter in the prior year, the company posted $0.12 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. sell-side analysts expect that Sonus Networks, Inc. will post 0.09 earnings per share for the current fiscal year.

Several analysts recently issued reports on the stock. TheStreet raised shares of Sonus Networks from a “d+” rating to a “c” rating in a research note on Monday, October 23rd. Cowen and Company reaffirmed a “sell” rating and set a $5.00 price objective on shares of Sonus Networks in a research note on Friday, August 4th. BidaskClub cut shares of Sonus Networks from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Sonus Networks from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Wednesday, August 9th. Finally, DA Davidson raised shares of Sonus Networks from a “neutral” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $8.64.

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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.

Institutional Ownership by Quarter for Sonus Networks (NASDAQ:SONS)

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