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

Ribbon Communications Inc. (NASDAQ:RBBN) CEO Bruce William Mcclelland bought 12,500 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were bought at an average cost of $1.98 per share, for a total transaction of $24,750.00. Following the completion of the transaction, the chief executive officer directly owned 1,516,164 shares of the company’s stock, valued at $3,002,004.72. This trade represents a 0.83% 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 Wednesday, February 11th, Bruce William Mcclelland bought 12,500 shares of Ribbon Communications stock. The shares were bought at an average cost of $1.99 per share, with a total value of $24,875.00.
• On Tuesday, February 10th, Bruce William Mcclelland purchased 12,000 shares of Ribbon Communications stock. The stock was bought at an average cost of $2.06 per share, for a total transaction of $24,720.00.

Ribbon Communications Price Performance

NASDAQ RBBN opened at $2.09 on Friday. 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 Inc. has a 1 year low of $1.80 and a 1 year high of $5.38. The company has a market cap of $369.09 million, a PE ratio of 9.50 and a beta of 1.07. The stock’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $3.30.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Thursday, February 5th. The communications equipment provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.11 by $0.48. The company had revenue of $227.32 million during 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 last year, the company posted $0.16 earnings per share. On average, analysts predict that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. B.Riley Securit lowered Ribbon Communications from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. B. Riley Financial downgraded Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price target on the stock. in a 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 objective for the company. in a research note on Friday, February 6th. Citigroup restated an “outperform” rating on shares of Ribbon Communications in a research report on Friday, February 6th. Finally, Wall Street Zen cut Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.47.

Institutional Trading of Ribbon Communications

Institutional investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. increased its position in Ribbon Communications by 88.9% in 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 purchasing an additional 418,967 shares during the last quarter. State Street Corp grew its stake in shares of Ribbon Communications by 0.3% in the 4th quarter. State Street Corp now owns 2,099,793 shares of the communications equipment provider’s stock valued at $6,047,000 after buying an additional 5,280 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Ribbon Communications by 30.0% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 91,026 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 20,982 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Ribbon Communications by 42.7% in the fourth quarter. Wells Fargo & Company MN now owns 110,798 shares of the communications equipment provider’s stock worth $319,000 after buying an additional 33,156 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Ribbon Communications by 89.0% during the fourth quarter. Jane Street Group LLC now owns 379,465 shares of the communications equipment provider’s stock valued at $1,093,000 after acquiring an additional 178,645 shares in 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.