Ribbon Communications (NASDAQ:RBBN) CEO Bruce William Mcclelland Purchases 12,500 Shares of Stock

Ribbon Communications Inc. (NASDAQ:RBBN) CEO Bruce William Mcclelland acquired 12,500 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average price of $1.99 per share, with a total value of $24,875.00. Following the completion of the transaction, the chief executive officer owned 1,503,664 shares of the company’s stock, valued at approximately $2,992,291.36. This trade represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Bruce William Mcclelland also recently made the following trade(s):

• On Friday, February 13th, Bruce William Mcclelland bought 12,500 shares of Ribbon Communications stock. The shares were acquired at an average price of $1.98 per share, for a total transaction of $24,750.00.
• On Tuesday, February 10th, Bruce William Mcclelland bought 12,000 shares of Ribbon Communications stock. The stock was acquired at an average cost of $2.06 per share, for a total transaction of $24,720.00.

Ribbon Communications Price Performance

RBBN opened at $2.09 on Friday. The company has a fifty day moving average price of $2.74 and a two-hundred day moving average price of $3.30. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.43. The firm has a market capitalization of $369.09 million, a PE ratio of 9.50 and a beta of 1.07. Ribbon Communications Inc. has a 52 week low of $1.80 and a 52 week high of $5.38.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Thursday, February 5th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.48. The business had revenue of $227.32 million for the quarter, compared to analyst estimates of $241.35 million. Ribbon Communications had a return on equity of 27.48% and a net margin of 4.69%.The firm’s revenue was down 9.6% on a year-over-year basis. During the same period last year, the company earned $0.16 EPS. As a group, analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of RBBN. State of Alaska Department of Revenue acquired a new stake in Ribbon Communications in the 3rd quarter valued at $29,000. Kathmere Capital Management LLC bought a new position in shares of Ribbon Communications in the 4th quarter valued at about $29,000. Indivisible Partners acquired a new stake in shares of Ribbon Communications in the fourth quarter valued at about $30,000. Tower Research Capital LLC TRC raised its holdings in Ribbon Communications by 453.3% during the second quarter. Tower Research Capital LLC TRC now owns 10,025 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 8,213 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Ribbon Communications during the third quarter worth about $41,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on RBBN. Craig Hallum reaffirmed a “buy” rating and set a $3.00 price objective on shares of Ribbon Communications in a research note on Wednesday. B. Riley Securities downgraded Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price target for the company. in a report on Friday, February 6th. Citizens Jmp dropped their price target on Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating on the stock in a research report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ribbon Communications in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.47.

Ribbon Communications Company Profile

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.