Ribbon Communications Inc. (NASDAQ:RBBN) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBNFree Report) by 52.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,051 shares of the communications equipment provider’s stock after selling 30,132 shares during the period. Citigroup Inc.’s holdings in Ribbon Communications were worth $72,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Swiss National Bank grew its stake in shares of Ribbon Communications by 8.0% in the 1st quarter. Swiss National Bank now owns 228,474 shares of the communications equipment provider’s stock worth $706,000 after purchasing an additional 16,900 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Ribbon Communications by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 431,590 shares of the communications equipment provider’s stock worth $1,334,000 after purchasing an additional 7,168 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Ribbon Communications by 226.8% in the 1st quarter. MetLife Investment Management LLC now owns 38,902 shares of the communications equipment provider’s stock worth $120,000 after purchasing an additional 26,999 shares during the last quarter. BlackRock Inc. grew its stake in shares of Ribbon Communications by 1.2% in the 1st quarter. BlackRock Inc. now owns 6,649,989 shares of the communications equipment provider’s stock worth $20,549,000 after purchasing an additional 80,750 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Ribbon Communications by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,704,671 shares of the communications equipment provider’s stock worth $11,448,000 after purchasing an additional 72,194 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Buying and Selling

In related news, EVP Dan Redington sold 34,452 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $3.10, for a total transaction of $106,801.20. Following the completion of the sale, the executive vice president now directly owns 66,839 shares in the company, valued at $207,200.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Dan Redington sold 34,452 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $3.10, for a total transaction of $106,801.20. Following the completion of the sale, the executive vice president now directly owns 66,839 shares in the company, valued at $207,200.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruns H. Grayson purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $2.89 per share, with a total value of $289,000.00. Following the completion of the acquisition, the director now owns 590,175 shares of the company’s stock, valued at approximately $1,705,605.75. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 103,000 shares of company stock worth $297,720 and sold 66,000 shares worth $205,119. 1.91% of the stock is currently owned by corporate insiders.

Ribbon Communications Stock Performance

Shares of RBBN opened at $3.19 on Tuesday. Ribbon Communications Inc. has a one year low of $1.78 and a one year high of $3.65. The company has a 50-day moving average of $3.09 and a two-hundred day moving average of $2.66. The stock has a market cap of $547.82 million, a price-to-earnings ratio of -7.98 and a beta of 1.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.23 and a quick ratio of 1.00.

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

Analyst Ratings Changes

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

Get Our Latest Research Report on RBBN

Ribbon Communications Company Profile

(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.

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Institutional Ownership by Quarter for Ribbon Communications (NASDAQ:RBBN)

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