Insider Selling: Ribbon Communications Inc (NASDAQ:RBBN) CMO Sells 4,180 Shares of Stock

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Ribbon Communications Inc (NASDAQ:RBBN) CMO Patrick Joggerst sold 4,180 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $2.99, for a total value of $12,498.20. Following the transaction, the chief marketing officer now directly owns 88,740 shares of the company’s stock, valued at approximately $265,332.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ RBBN traded down $0.09 during midday trading on Tuesday, hitting $2.65. 625,800 shares of the company’s stock were exchanged, compared to its average volume of 323,043. Ribbon Communications Inc has a 12-month low of $2.62 and a 12-month high of $6.56. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. The company has a market cap of $304.47 million, a price-to-earnings ratio of 5.52 and a beta of 1.37. The business’s fifty day moving average price is $4.92 and its two-hundred day moving average price is $5.00.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, October 30th. The communications equipment provider reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.08). The business had revenue of $137.65 million for the quarter, compared to analysts’ expectations of $156.66 million. Ribbon Communications had a return on equity of 5.02% and a net margin of 3.25%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. Equities analysts expect that Ribbon Communications Inc will post -0.24 earnings per share for the current fiscal year.

Several research analysts have recently commented on RBBN shares. Northland Securities reissued a “hold” rating and set a $6.00 price objective on shares of Ribbon Communications in a report on Friday. TheStreet raised Ribbon Communications from a “d+” rating to a “c-” rating in a report on Wednesday, August 21st. BidaskClub lowered Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Tuesday. National Securities lowered Ribbon Communications from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $3.50 in a report on Thursday, November 14th. Finally, Zacks Investment Research lowered Ribbon Communications from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $5.08.

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can boosted its stake in Ribbon Communications by 252,850.0% in the second quarter. Bank of Montreal Can now owns 5,059 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 5,057 shares in the last quarter. Aperio Group LLC purchased a new stake in Ribbon Communications in the second quarter worth approximately $35,000. Campbell & CO Investment Adviser LLC purchased a new stake in Ribbon Communications in the third quarter worth approximately $71,000. Panagora Asset Management Inc. boosted its stake in Ribbon Communications by 33.1% in the second quarter. Panagora Asset Management Inc. now owns 12,380 shares of the communications equipment provider’s stock worth $61,000 after buying an additional 3,079 shares in the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new stake in Ribbon Communications in the second quarter worth approximately $102,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Ribbon Communications Company Profile

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, other Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables secure and innovative business and consumer communications services.

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Insider Buying and Selling by Quarter for Ribbon Communications (NASDAQ:RBBN)

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