Key Points
- CEO Bruce William McClelland bought 37,000 RBBN shares between Feb 10–13 for about $74,345 (including 12,000 shares on Feb 10 at $2.06 disclosed in an SEC Form 4); after the Feb 10 trade he owned roughly 1,491,164 shares (a 0.81% increase at that time).
- Ribbon reported $0.59 EPS for the quarter, beating estimates despite revenue declining 9.6% year-over-year; the stock trades around $2.09 and carries a consensus Hold rating with a $3.47 price target.
Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) CEO Bruce William Mcclelland purchased 12,000 shares of the firm's stock in a transaction dated Tuesday, February 10th. The stock was bought at an average cost of $2.06 per share, with a total value of $24,720.00. Following the purchase, the chief executive officer owned 1,491,164 shares of the company's stock, valued at approximately $3,071,797.84. This trade represents a 0.81% increase in their position. The acquisition was disclosed in a document filed with the SEC, 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 stock was purchased at an average price of $1.98 per share, for a total transaction of $24,750.00.
- 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, for a total transaction of $24,875.00.
Ribbon Communications Price Performance
Shares of NASDAQ RBBN opened at $2.09 on Friday. The company has a market capitalization of $369.09 million, a PE ratio of 9.50 and a beta of 1.07. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.91. The firm has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $3.30. Ribbon Communications Inc. has a twelve month low of $1.80 and a twelve month high of $5.38.
Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its earnings results 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 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 earned $0.16 EPS. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, sell-side analysts forecast that Ribbon Communications Inc. will post 0.18 EPS for the current year.
Analyst Upgrades and Downgrades
RBBN has been the topic of several research reports. Northland Securities set a $4.00 price objective on shares of Ribbon Communications in a report on Friday, February 6th. Craig Hallum reaffirmed a "buy" rating and issued a $3.00 target price on shares of Ribbon Communications in a research report on Wednesday. B. Riley Financial lowered 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 Securit lowered shares of Ribbon Communications from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. Finally, Citizens Jmp dropped their price objective on shares of Ribbon Communications from $6.00 to $4.00 and set a "market outperform" rating on the stock in a research note on Friday, February 6th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $3.47.
View Our Latest Report on Ribbon Communications
Institutional Trading of Ribbon Communications
A number of institutional investors and hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. raised its stake in shares of 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 purchasing an additional 418,967 shares during the period. State Street Corp lifted its stake in shares of Ribbon Communications by 0.3% during 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 boosted its holdings in shares of Ribbon Communications by 30.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 91,026 shares of the communications equipment provider's stock worth $262,000 after acquiring an additional 20,982 shares during the period. Wells Fargo & Company MN boosted its stake in Ribbon Communications by 42.7% in the 4th quarter. Wells Fargo & Company MN now owns 110,798 shares of the communications equipment provider's stock worth $319,000 after purchasing an additional 33,156 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Ribbon Communications by 89.0% in 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 during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.
Ribbon Communications Company Profile
(
Get Free Report)
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.
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