Algert Global LLC decreased its position in Sonus Networks, Inc. (NASDAQ:SONS) by 55.3% during the second quarter, Holdings Channel reports. The fund owned 108,822 shares of the communications equipment provider’s stock after selling 134,525 shares during the period. Algert Global LLC’s holdings in Sonus Networks were worth $810,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Sonus Networks by 2,607.2% in the first quarter. JPMorgan Chase & Co. now owns 1,018,573 shares of the communications equipment provider’s stock worth $6,713,000 after buying an additional 980,948 shares during the last quarter. First Trust Advisors LP increased its position in shares of Sonus Networks by 20.8% in the first quarter. First Trust Advisors LP now owns 3,532,672 shares of the communications equipment provider’s stock worth $23,280,000 after buying an additional 607,662 shares during the last quarter. Central Securities Corp increased its position in shares of Sonus Networks by 60.4% in the first quarter. Central Securities Corp now owns 750,000 shares of the communications equipment provider’s stock worth $4,943,000 after buying an additional 282,388 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sonus Networks by 10.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,706,350 shares of the communications equipment provider’s stock worth $17,835,000 after buying an additional 251,934 shares during the last quarter. Finally, Menta Capital LLC purchased a new position in shares of Sonus Networks during the first quarter worth approximately $879,000. Institutional investors own 64.73% of the company’s stock.

Sonus Networks, Inc. (NASDAQ:SONS) opened at 6.90 on Friday. The stock’s 50 day moving average is $7.36 and its 200-day moving average is $6.99. Sonus Networks, Inc. has a 1-year low of $5.51 and a 1-year high of $8.97. The firm’s market capitalization is $342.83 million.

Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $53.93 million. During the same period in the previous year, the business earned $0.08 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. Equities research analysts forecast that Sonus Networks, Inc. will post $0.25 EPS for the current year.

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SONS has been the subject of a number of analyst reports. William Blair restated a “hold” rating on shares of Sonus Networks in a research report on Monday, May 1st. Zacks Investment Research upgraded shares of Sonus Networks from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Saturday, April 29th. Benchmark Co. initiated coverage on shares of Sonus Networks in a research report on Wednesday, April 26th. They set a “buy” rating and a $4.00 price objective for the company. Northland Securities set a $10.00 price objective on shares of Sonus Networks and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, ValuEngine downgraded shares of Sonus Networks from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Sonus Networks presently has an average rating of “Hold” and an average target price 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.

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

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