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

Ribbon Communications Inc. (NASDAQ:RBBN) CEO Bruce William Mcclelland acquired 12,500 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was bought at an average price of $1.98 per share, for a total transaction of $24,750.00. Following the completion of the acquisition, the chief executive officer owned 1,516,164 shares in the company, valued at approximately $3,002,004.72. The trade was a 0.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, February 11th, Bruce William Mcclelland bought 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 purchased 12,000 shares of Ribbon Communications stock. The shares were purchased at an average price of $2.06 per share, with a total value of $24,720.00.

Ribbon Communications Trading Up 7.4%

RBBN traded up $0.15 during mid-day trading on Friday, hitting $2.10. 863,087 shares of the stock were exchanged, compared to its average volume of 842,302. The firm’s fifty day moving average is $2.75 and its two-hundred day moving average is $3.31. Ribbon Communications Inc. has a 1-year low of $1.80 and a 1-year high of $5.38. The company has a market cap of $369.98 million, a PE 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.

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 the consensus estimate of $0.11 by $0.48. Ribbon Communications had a net margin of 4.69% and a return on equity of 27.48%. The business had revenue of $227.32 million during the quarter, compared to analyst estimates of $241.35 million. During the same quarter last year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities analysts forecast that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RBBN has been the topic of a number of analyst reports. Wall Street Zen lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Rosenblatt Securities cut their target price on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Citizens Jmp decreased their price target 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. Craig Hallum reissued a “buy” rating and issued a $3.00 price objective on shares of Ribbon Communications in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ribbon Communications in a research report on Thursday, January 22nd. 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 MarketBeat, Ribbon Communications has an average rating of “Hold” and an average price target of $3.47.

Hedge Funds Weigh In On Ribbon Communications

Hedge funds have recently made changes to their positions in the company. First Eagle Investment Management LLC raised its holdings in shares of Ribbon Communications by 16.5% in the second quarter. First Eagle Investment Management LLC now owns 1,025,914 shares of the communications equipment provider’s stock valued at $4,114,000 after buying an additional 145,159 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Ribbon Communications by 24.1% in 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 buying an additional 286,803 shares during the period. Teacher Retirement System of Texas raised its position 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 worth $289,000 after buying an additional 19,013 shares during the last quarter. White Pine Capital LLC raised its position in Ribbon Communications by 17.8% during 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 last quarter. Finally, Trilogy Capital Inc. acquired a new stake in shares of Ribbon Communications in the 3rd 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.