Insider Buying: Ribbon Communications (NASDAQ:RBBN) CEO Buys $24,720.00 in Stock

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

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

• On Friday, February 13th, Bruce William Mcclelland acquired 12,500 shares of Ribbon Communications stock. The shares were acquired at an average price of $1.98 per share, for a total transaction of $24,750.00.
• On Wednesday, February 11th, Bruce William Mcclelland bought 12,500 shares of Ribbon Communications stock. The shares were acquired at an average cost of $1.99 per share, with a total value of $24,875.00.

Ribbon Communications Stock Performance

Shares of RBBN stock opened at $2.09 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.43. Ribbon Communications Inc. has a 52 week low of $1.80 and a 52 week high of $5.38. The company’s 50 day moving average price is $2.74 and its two-hundred day moving average price is $3.29. The company has a market capitalization of $369.09 million, a P/E ratio of 9.50 and a beta of 1.07.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Thursday, February 5th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, topping 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 company had revenue of $227.32 million during the quarter, compared to the consensus estimate of $241.35 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The firm’s revenue was down 9.6% compared to the same quarter last year. On average, analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on RBBN. Wall Street Zen cut Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Citizens Jmp reduced their price target on Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating for the company in a research report on Friday, February 6th. B.Riley Securit cut shares of Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Northland Securities set a $4.00 price objective on shares of Ribbon Communications in a research report on Friday, February 6th. Finally, Rosenblatt Securities reduced their target price on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday, February 6th. Four investment 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.47.

Institutional Investors Weigh In On Ribbon Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in shares of Ribbon Communications in the 3rd quarter valued at approximately $29,000. Kathmere Capital Management LLC bought a new stake in Ribbon Communications during the fourth quarter worth $29,000. Indivisible Partners acquired a new stake in Ribbon Communications in the fourth quarter valued at $30,000. Tower Research Capital LLC TRC lifted its stake in Ribbon Communications by 453.3% in the second quarter. Tower Research Capital LLC TRC now owns 10,025 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 8,213 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Ribbon Communications in the 3rd quarter valued at about $41,000. Institutional investors 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.