Insider Buying: Ribbon Communications (NASDAQ:RBBN) CEO Buys $24,875.00 in Stock

Ribbon Communications Inc. (NASDAQ:RBBN) CEO Bruce William Mcclelland acquired 12,500 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were purchased at an average price of $1.99 per share, with a total value of $24,875.00. Following the transaction, the chief executive officer owned 1,503,664 shares in the company, valued at $2,992,291.36. The trade was a 0.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, February 13th, Bruce William Mcclelland purchased 12,500 shares of Ribbon Communications stock. The shares were purchased at an average price of $1.98 per share, for a total transaction of $24,750.00.
• On Tuesday, February 10th, Bruce William Mcclelland purchased 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 Price Performance

Shares of RBBN opened at $2.09 on Monday. 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’s 50 day moving average is $2.74 and its two-hundred day moving average is $3.29. Ribbon Communications Inc. has a twelve month low of $1.80 and a twelve month high of $5.38. The firm 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 results on Thursday, February 5th. The communications equipment provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.48. The business had revenue of $227.32 million for 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 revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. Research analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Worth Venture Partners LLC grew its holdings in shares of Ribbon Communications by 9.9% during the second quarter. Worth Venture Partners LLC now owns 55,564 shares of the communications equipment provider’s stock worth $223,000 after buying an additional 5,000 shares in the last quarter. State Street Corp boosted its position 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 acquiring an additional 5,280 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Ribbon Communications by 9.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 64,160 shares of the communications equipment provider’s stock worth $257,000 after acquiring an additional 5,600 shares during the period. Alliancebernstein L.P. raised its holdings in 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 acquiring an additional 6,000 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Ribbon Communications by 2.9% during the 3rd quarter. GSA Capital Partners LLP now owns 216,283 shares of the communications equipment provider’s stock worth $822,000 after purchasing an additional 6,173 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on RBBN. Rosenblatt Securities decreased their target price on Ribbon Communications from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. B. Riley Financial lowered shares of Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price objective on the stock. in a research report on Friday, February 6th. Wall Street Zen downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. B. Riley Securities cut shares of 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, Northland Securities set a $4.00 price target 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.47.

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.