Ribbon Communications Inc. (NASDAQ:RBBN) Director Beatriz V. Infante Sells 5,790 Shares

Ribbon Communications Inc. (NASDAQ:RBBN) Director Beatriz V. Infante sold 5,790 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.04, for a total value of $17,601.60. Following the completion of the sale, the director now owns 303,549 shares in the company, valued at approximately $922,788.96. The transaction was disclosed in a filing with the SEC, which is available at this link.

Ribbon Communications Stock Performance

NASDAQ RBBN opened at $2.97 on Thursday. The stock has a market capitalization of $516.51 million, a price-to-earnings ratio of -8.49 and a beta of 1.09. The stock has a 50-day moving average of $3.26 and a 200 day moving average of $3.12. The company has a current ratio of 1.48, a quick ratio of 1.19 and a debt-to-equity ratio of 0.82. Ribbon Communications Inc. has a twelve month low of $1.78 and a twelve month high of $3.95.

Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Ribbon Communications had a positive return on equity of 5.32% and a negative net margin of 6.68%. The business had revenue of $192.62 million for the quarter, compared to analyst estimates of $203.05 million. During the same period in the previous year, the company earned $0.01 earnings per share. Sell-side analysts anticipate that Ribbon Communications Inc. will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new position in shares of Ribbon Communications during the 2nd quarter worth about $132,000. Algert Global LLC increased its stake in Ribbon Communications by 9.5% during the 2nd quarter. Algert Global LLC now owns 228,327 shares of the communications equipment provider’s stock worth $751,000 after buying an additional 19,775 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of Ribbon Communications by 49.0% during the second quarter. Pacific Ridge Capital Partners LLC now owns 221,334 shares of the communications equipment provider’s stock valued at $728,000 after acquiring an additional 72,743 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Ribbon Communications in the second quarter valued at approximately $137,000. Finally, Paradigm Capital Management Inc. NY boosted its stake in shares of Ribbon Communications by 4.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 10,546,400 shares of the communications equipment provider’s stock worth $34,698,000 after acquiring an additional 420,000 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 target price on shares of Ribbon Communications in a research note on Thursday, July 25th.

Ribbon Communications Company Profile

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.