Insider Selling: Ribbon Communications Inc. (NASDAQ:RBBN) Director Sells $17,601.60 in Stock

Ribbon Communications Inc. (NASDAQ:RBBN) Director Beatriz V. Infante sold 5,790 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 303,549 shares in the company, valued at $922,788.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ribbon Communications Stock Up 1.7 %

NASDAQ:RBBN opened at $2.97 on Thursday. 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. The company has a market cap of $516.51 million, a PE ratio of -8.49 and a beta of 1.09. The company’s 50 day moving average is $3.26 and its two-hundred day moving average is $3.12.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. SG Capital Management LLC lifted its holdings in shares of 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 worth $256,000 after purchasing an additional 4,449 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Ribbon Communications by 2.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 195,509 shares of the communications equipment provider’s stock valued at $643,000 after acquiring an additional 4,553 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Ribbon Communications by 6.3% in the 2nd quarter. XTX Topco Ltd now owns 79,802 shares of the communications equipment provider’s stock valued at $263,000 after acquiring an additional 4,746 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Ribbon Communications by 4.6% during 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 during the last quarter. Finally, Pacific Ridge Capital Partners LLC lifted its position in Ribbon Communications by 7.1% during the first quarter. Pacific Ridge Capital Partners LLC now owns 148,591 shares of the communications equipment provider’s stock valued at $475,000 after purchasing an additional 9,822 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.