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 stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.04, for a total transaction of $17,601.60. Following the transaction, the director now owns 303,549 shares in the company, valued at approximately $922,788.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ribbon Communications Stock Performance

Ribbon Communications stock traded down $0.05 during midday trading on Monday, reaching $3.00. 165,560 shares of the company traded hands, compared to its average volume of 378,309. Ribbon Communications Inc. has a 12 month low of $1.78 and a 12 month high of $3.95. The firm has a market capitalization of $521.73 million, a price-to-earnings ratio of -8.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. The business has a 50 day moving average of $3.27 and a two-hundred day moving average of $3.12.

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

Analysts Set New Price Targets

Separately, Rosenblatt Securities restated a “buy” rating and set a $5.00 price objective on shares of Ribbon Communications in a research report on Thursday, July 25th.

Institutional Trading of Ribbon Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Capital Management LLC increased its holdings in Ribbon Communications by 5.3% during the fourth quarter. SG Capital Management LLC now owns 88,110 shares of the communications equipment provider’s stock valued at $256,000 after buying an additional 4,449 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Ribbon Communications by 2.4% in the second quarter. Panagora Asset Management Inc. now owns 195,509 shares of the communications equipment provider’s stock worth $643,000 after purchasing an additional 4,553 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Ribbon Communications by 6.3% in the second quarter. XTX Topco Ltd now owns 79,802 shares of the communications equipment provider’s stock worth $263,000 after purchasing an additional 4,746 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Ribbon Communications by 4.6% in the second quarter. Rhumbline Advisers now owns 152,619 shares of the communications equipment provider’s stock worth $502,000 after purchasing an additional 6,668 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its stake in shares of Ribbon Communications by 7.1% in the first quarter. Pacific Ridge Capital Partners LLC now owns 148,591 shares of the communications equipment provider’s stock worth $475,000 after purchasing an additional 9,822 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

About Ribbon Communications

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.