Insider Selling: Ribbon Communications Inc. (NASDAQ:RBBN) Director Sells 5,790 Shares of Stock

Ribbon Communications Inc. (NASDAQ:RBBN) Director Beatriz V. Infante sold 5,790 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.04, for a total transaction of $17,601.60. Following the sale, the director now directly owns 303,549 shares in the company, valued at $922,788.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ribbon Communications Stock Down 2.7 %

Ribbon Communications stock opened at $2.92 on Wednesday. Ribbon Communications Inc. has a twelve month low of $1.78 and a twelve month high of $3.95. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.19 and a current ratio of 1.48. The firm has a market cap of $507.82 million, a PE ratio of -8.34 and a beta of 1.09. The firm’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $3.12.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $192.62 million during the quarter, compared to analyst estimates of $203.05 million. Ribbon Communications had a positive return on equity of 5.32% and a negative net margin of 6.68%. During the same period last year, the company posted $0.01 earnings per share. On average, research analysts predict that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Paradigm Capital Management Inc. NY increased its holdings in Ribbon Communications by 4.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 10,546,400 shares of the communications equipment provider’s stock worth $34,698,000 after buying an additional 420,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Ribbon Communications by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider’s stock valued at $19,012,000 after purchasing an additional 270,972 shares in the last quarter. Brandes Investment Partners LP lifted its stake in shares of Ribbon Communications by 43.4% in the 4th quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock valued at $1,859,000 after purchasing an additional 193,829 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Ribbon Communications by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 434,204 shares of the communications equipment provider’s stock worth $1,429,000 after purchasing an additional 31,644 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Ribbon Communications by 29.3% during the fourth quarter. Victory Capital Management Inc. now owns 295,103 shares of the communications equipment provider’s stock worth $856,000 after buying an additional 66,949 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reissued a “buy” rating and set a $5.00 price target on shares of Ribbon Communications in a research report on Thursday, July 25th.

About Ribbon Communications

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.