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

Ribbon Communications Inc. (NASDAQ:RBBN) CEO Bruce William Mcclelland purchased 12,500 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was acquired at an average price of $1.99 per share, for a total transaction 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 $2,992,291.36. This represents a 0.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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, with a total value of $24,750.00.
• On Tuesday, February 10th, Bruce William Mcclelland acquired 12,000 shares of Ribbon Communications stock. The shares were bought at an average price of $2.06 per share, with a total value of $24,720.00.

Ribbon Communications Trading Up 7.4%

Shares of Ribbon Communications stock traded up $0.15 on Friday, reaching $2.10. 863,087 shares of the company were exchanged, compared to its average volume of 842,302. Ribbon Communications Inc. has a fifty-two week low of $1.80 and a fifty-two week high of $5.38. The firm has a market capitalization of $369.98 million, a price-to-earnings ratio of 9.52 and a beta of 1.07. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average price of $2.75 and a 200-day moving average price of $3.31.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RBBN shares. B. Riley Securities downgraded Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 target price on the stock. in a report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ribbon Communications in a research note on Thursday, January 22nd. Citizens Jmp decreased their target price on shares of Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating for the company in a research note on Friday, February 6th. B.Riley Securit cut shares of Ribbon Communications from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Craig Hallum reiterated a “buy” rating and set a $3.00 price objective on shares of Ribbon Communications in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.47.

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBBN. State of Alaska Department of Revenue bought a new stake in shares of Ribbon Communications during the 3rd quarter worth $29,000. Kathmere Capital Management LLC acquired a new position in Ribbon Communications during the 4th quarter worth $29,000. Indivisible Partners bought a new stake in Ribbon Communications during the fourth quarter valued at about $30,000. Tower Research Capital LLC TRC boosted 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 valued at $40,000 after acquiring an additional 8,213 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Ribbon Communications in the third quarter valued at about $41,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

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.