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

Ribbon Communications Inc. (NASDAQ:RBBN) CEO Bruce William Mcclelland purchased 12,500 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were purchased at an average cost of $1.98 per share, for a total transaction of $24,750.00. Following the completion of the purchase, the chief executive officer directly owned 1,516,164 shares in the company, valued at $3,002,004.72. The trade was a 0.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

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

Ribbon Communications Stock Up 7.2%

RBBN stock opened at $2.09 on Friday. The stock has a market capitalization of $369.09 million, a P/E ratio of 9.50 and a beta of 1.07. 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 one year low of $1.80 and a one year high of $5.38. The company has a 50 day moving average price of $2.74 and a two-hundred day moving average price of $3.30.

Ribbon Communications (NASDAQ:RBBN) last issued 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. Ribbon Communications had a return on equity of 27.48% and a net margin of 4.69%.The company had revenue of $227.32 million for the quarter, compared to analyst estimates of $241.35 million. During the same quarter in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Craig Hallum reiterated a “buy” rating and issued a $3.00 price target on shares of Ribbon Communications in a report on Wednesday. B.Riley Securit lowered Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. B. Riley Securities downgraded Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price target for the company. in a research report on Friday, February 6th. B. Riley Financial lowered Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price target for the company. in a research note on Friday, February 6th. Finally, Citizens Jmp cut their price target on shares of Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating on the stock in a report on Friday, February 6th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ribbon Communications has a consensus rating of “Hold” and an average price target of $3.47.

Institutional Investors Weigh In On Ribbon Communications

Large investors have recently modified their holdings of the stock. Royce & Associates LP raised its holdings in shares of Ribbon Communications by 17.2% during the 3rd quarter. Royce & Associates LP now owns 4,305,470 shares of the communications equipment provider’s stock valued at $16,361,000 after buying an additional 633,035 shares during the period. Cinctive Capital Management LP purchased a new position in Ribbon Communications in the 3rd quarter worth approximately $1,991,000. Arrowstreet Capital Limited Partnership grew its holdings in Ribbon Communications by 99.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 964,446 shares of the communications equipment provider’s stock valued at $3,665,000 after purchasing an additional 481,276 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Ribbon Communications by 88.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 890,168 shares of the communications equipment provider’s stock worth $2,564,000 after buying an additional 418,967 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Ribbon Communications by 85.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 787,493 shares of the communications equipment provider’s stock valued at $2,268,000 after buying an additional 363,334 shares during the last quarter. Institutional investors and hedge funds 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.