Ribbon Communications Inc. (NASDAQ:RBBN) Director Purchases $289,000.00 in Stock

Ribbon Communications Inc. (NASDAQ:RBBNGet Free Report) Director Bruns H. Grayson bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $2.89 per share, with a total value of $289,000.00. Following the acquisition, the director now owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ribbon Communications Stock Performance

RBBN opened at $3.03 on Thursday. The stock has a fifty day simple moving average of $3.05 and a two-hundred day simple moving average of $2.65. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. Ribbon Communications Inc. has a 12-month low of $1.78 and a 12-month high of $3.85.

Ribbon Communications (NASDAQ:RBBNGet Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $226.40 million during the quarter, compared to the consensus estimate of $233.63 million. Ribbon Communications had a positive return on equity of 3.53% and a negative net margin of 8.01%. Equities research analysts expect that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

A number of institutional investors have recently added to or reduced their stakes in RBBN. Tower Research Capital LLC TRC increased its holdings in shares of Ribbon Communications by 275.6% during the third quarter. Tower Research Capital LLC TRC now owns 11,406 shares of the communications equipment provider’s stock valued at $25,000 after acquiring an additional 8,369 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Ribbon Communications by 135.0% during the second quarter. Royal Bank of Canada now owns 9,642 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 5,539 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Ribbon Communications during the third quarter valued at $29,000. Quantbot Technologies LP increased its holdings in shares of Ribbon Communications by 103.8% during the second quarter. Quantbot Technologies LP now owns 10,600 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 5,400 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Ribbon Communications during the second quarter valued at $32,000. Institutional investors own 70.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Ribbon Communications from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $5.83.

Check Out Our Latest Stock Report on Ribbon Communications

About Ribbon Communications

(Get Free Report)

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.

Further Reading

Insider Buying and Selling by Quarter for Ribbon Communications (NASDAQ:RBBN)

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