Ribbon Communications (NASDAQ:RBBN) CEO Bruce William Mcclelland Purchases 12,000 Shares

Ribbon Communications Inc. (NASDAQ:RBBN) CEO Bruce William Mcclelland acquired 12,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were bought at an average price of $2.06 per share, with a total value of $24,720.00. Following the completion of the transaction, the chief executive officer directly owned 1,491,164 shares of the company’s stock, valued at approximately $3,071,797.84. The trade was a 0.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 stock was purchased at an average cost of $1.98 per share, for a total transaction of $24,750.00.
• On Wednesday, February 11th, Bruce William Mcclelland purchased 12,500 shares of Ribbon Communications stock. The shares were purchased at an average cost of $1.99 per share, with a total value of $24,875.00.

Ribbon Communications Stock Performance

RBBN opened at $2.09 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.43 and a quick ratio of 1.16. The business has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $3.30. Ribbon Communications Inc. has a 1 year low of $1.80 and a 1 year high of $5.38. The company has a market capitalization of $369.09 million, a PE ratio of 9.50 and a beta of 1.07.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RBBN. Citizens Jmp reduced 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. Wall Street Zen downgraded Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Northland Securities set a $4.00 price target on Ribbon Communications in a research report on Friday, February 6th. Craig Hallum reaffirmed a “buy” rating and issued a $3.00 price target on shares of Ribbon Communications in a research note on Wednesday. Finally, Rosenblatt Securities reduced their price target on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.47.

Hedge Funds Weigh In On Ribbon Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in Ribbon Communications during the 1st quarter worth $805,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ribbon Communications during the first quarter worth about $124,000. Jane Street Group LLC increased its stake in shares of Ribbon Communications by 436.9% in the first quarter. Jane Street Group LLC now owns 101,211 shares of the communications equipment provider’s stock valued at $397,000 after buying an additional 82,361 shares during the period. Strs Ohio bought a new position in Ribbon Communications in the 1st quarter valued at approximately $69,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Ribbon Communications by 35.9% during the second quarter. Teacher Retirement System of Texas now owns 72,022 shares of the communications equipment provider’s stock worth $289,000 after purchasing an additional 19,013 shares during the period. Institutional investors own 70.92% of the company’s stock.

About Ribbon Communications

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.