Bruce William Mcclelland Acquires 12,000 Shares of Ribbon Communications (NASDAQ:RBBN) Stock

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

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

Ribbon Communications Trading Up 7.2%

NASDAQ:RBBN opened at $2.09 on Friday. Ribbon Communications Inc. has a 1 year low of $1.80 and a 1 year high of $5.38. The stock’s fifty day moving average price is $2.74 and its two-hundred day moving average price is $3.30. 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 company has a market cap of $369.09 million, a P/E ratio of 9.50 and a beta of 1.07.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results 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. The firm had revenue of $227.32 million during the quarter, compared to analyst estimates of $241.35 million. Ribbon Communications had a net margin of 4.69% and a return on equity of 27.48%. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. As a group, analysts expect that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

RBBN has been the topic of several recent analyst reports. B.Riley Securit cut Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Rosenblatt Securities reduced their price objective on Ribbon Communications from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Craig Hallum reiterated a “buy” rating and issued a $3.00 target price on shares of Ribbon Communications in a research note on Wednesday. B. Riley Financial lowered Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 target price for the company. in a research report on Friday, February 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ribbon Communications in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ribbon Communications presently has a consensus rating of “Hold” and a consensus price target of $3.47.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC grew its position in shares of Ribbon Communications by 16.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,025,914 shares of the communications equipment provider’s stock worth $4,114,000 after buying an additional 145,159 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Ribbon Communications by 24.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,476,053 shares of the communications equipment provider’s stock valued at $5,919,000 after purchasing an additional 286,803 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Ribbon Communications by 35.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 72,022 shares of the communications equipment provider’s stock valued at $289,000 after purchasing an additional 19,013 shares during the last quarter. White Pine Capital LLC increased its holdings in Ribbon Communications by 17.8% in the 2nd quarter. White Pine Capital LLC now owns 418,957 shares of the communications equipment provider’s stock worth $1,680,000 after buying an additional 63,435 shares during the period. Finally, Trilogy Capital Inc. purchased a new position in shares of Ribbon Communications during the third quarter worth $94,000. Hedge funds and other 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.