American International Group Inc. Boosts Position in Sonus Networks, Inc. (SONS)

American International Group Inc. raised its stake in Sonus Networks, Inc. (NASDAQ:SONS) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,368 shares of the communications equipment provider’s stock after buying an additional 1,930 shares during the period. American International Group Inc. owned approximately 0.06% of Sonus Networks worth $194,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SONS. Trexquant Investment LP acquired a new stake in Sonus Networks during the first quarter valued at about $161,000. Engineers Gate Manager LP acquired a new stake in Sonus Networks during the first quarter valued at about $282,000. Stoneridge Investment Partners LLC raised its stake in Sonus Networks by 71.2% in the first quarter. Stoneridge Investment Partners LLC now owns 48,986 shares of the communications equipment provider’s stock valued at $323,000 after buying an additional 20,373 shares during the last quarter. Highbridge Capital Management LLC raised its stake in Sonus Networks by 745.2% in the fourth quarter. Highbridge Capital Management LLC now owns 58,321 shares of the communications equipment provider’s stock valued at $367,000 after buying an additional 51,421 shares during the last quarter. Finally, KBC Group NV raised its stake in Sonus Networks by 3.2% in the first quarter. KBC Group NV now owns 67,142 shares of the communications equipment provider’s stock valued at $442,000 after buying an additional 2,085 shares during the last quarter. 71.19% of the stock is owned by institutional investors.

Sonus Networks, Inc. (NASDAQ SONS) opened at 6.84 on Friday. Sonus Networks, Inc. has a 52-week low of $5.51 and a 52-week high of $8.86. The stock has a 50 day moving average of $7.21 and a 200-day moving average of $7.01. The company’s market capitalization is $339.85 million.

Sonus Networks (NASDAQ:SONS) last posted its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. Sonus Networks had a negative net margin of 12.15% and a negative return on equity of 6.18%. The business had revenue of $55.70 million for the quarter, compared to analyst estimates of $53.93 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that Sonus Networks, Inc. will post $0.25 earnings per share for the current year.

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Several research firms have recently issued reports on SONS. B. Riley reissued a “neutral” rating and issued a $7.75 price objective on shares of Sonus Networks in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Sonus Networks from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a report on Wednesday, August 9th. Cowen and Company reaffirmed a “sell” rating and set a $5.00 price target on shares of Sonus Networks in a report on Friday, August 4th. DA Davidson raised shares of Sonus Networks from a “neutral” rating to a “buy” rating and set a $8.50 price target for the company in a report on Monday, August 7th. Finally, BidaskClub lowered shares of Sonus Networks from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $8.57.

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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