Insider Buying: Ribbon Communications (NASDAQ:RBBN) CEO Buys $24,750.00 in Stock

Ribbon Communications Inc. (NASDAQ:RBBN) CEO Bruce William Mcclelland bought 12,500 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were bought at an average cost of $1.98 per share, with a total value of $24,750.00. Following the transaction, the chief executive officer directly owned 1,516,164 shares of the company’s stock, valued at approximately $3,002,004.72. This trade represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, February 11th, Bruce William Mcclelland purchased 12,500 shares of Ribbon Communications stock. The stock was purchased at an average cost of $1.99 per share, for a total transaction of $24,875.00.
• On Tuesday, February 10th, Bruce William Mcclelland acquired 12,000 shares of Ribbon Communications stock. The shares were purchased at an average cost of $2.06 per share, with a total value of $24,720.00.

Ribbon Communications Stock Performance

NASDAQ:RBBN opened at $2.09 on Monday. 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 1 year low of $1.80 and a 1 year high of $5.38. 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 firm’s fifty day simple moving average is $2.74 and its 200 day simple moving average is $3.29.

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

Wall Street Analyst Weigh In

RBBN has been the topic of several recent analyst reports. B. Riley Securities downgraded Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price target on the stock. in a research report on Friday, February 6th. Wall Street Zen lowered shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Craig Hallum reissued a “buy” rating and issued a $3.00 price target on shares of Ribbon Communications in a report on Wednesday. B. Riley Financial lowered shares of Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price target on the stock. in a research report on Friday, February 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Ribbon Communications in a research report on Friday, February 6th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.47.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds have recently made changes to their positions in RBBN. Worth Venture Partners LLC lifted its holdings in shares of Ribbon Communications by 9.9% during the 2nd quarter. Worth Venture Partners LLC now owns 55,564 shares of the communications equipment provider’s stock worth $223,000 after acquiring an additional 5,000 shares during the period. State Street Corp lifted its stake in Ribbon Communications by 0.3% during the fourth quarter. State Street Corp now owns 2,099,793 shares of the communications equipment provider’s stock worth $6,047,000 after purchasing an additional 5,280 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Ribbon Communications by 9.6% during the second quarter. Los Angeles Capital Management LLC now owns 64,160 shares of the communications equipment provider’s stock valued at $257,000 after purchasing an additional 5,600 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Ribbon Communications by 5.3% in the 3rd quarter. Alliancebernstein L.P. now owns 119,317 shares of the communications equipment provider’s stock valued at $453,000 after purchasing an additional 6,000 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of Ribbon Communications by 2.9% in the 3rd quarter. GSA Capital Partners LLP now owns 216,283 shares of the communications equipment provider’s stock worth $822,000 after buying an additional 6,173 shares in the last quarter. 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.