Vanguard Group Inc. Acquires 35,132 Shares of Ribbon Communications Inc. (NASDAQ:RBBN)

Vanguard Group Inc. increased its holdings in Ribbon Communications Inc. (NASDAQ:RBBN) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 6,862,311 shares of the communications equipment provider’s stock after purchasing an additional 35,132 shares during the period. Vanguard Group Inc.’s holdings in Ribbon Communications were worth $18,391,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. boosted its position in Ribbon Communications by 16.1% during the third quarter. American Century Companies Inc. now owns 39,493 shares of the communications equipment provider’s stock worth $106,000 after purchasing an additional 5,484 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Ribbon Communications in the 3rd quarter valued at $29,000. GSA Capital Partners LLP bought a new position in Ribbon Communications in the 3rd quarter worth $118,000. Worth Venture Partners LLC lifted its position in Ribbon Communications by 15.2% during the 3rd quarter. Worth Venture Partners LLC now owns 67,588 shares of the communications equipment provider’s stock worth $181,000 after acquiring an additional 8,917 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Ribbon Communications by 39.3% during the third quarter. Sei Investments Co. now owns 74,857 shares of the communications equipment provider’s stock valued at $201,000 after acquiring an additional 21,103 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Ribbon Communications Price Performance

Shares of Ribbon Communications stock opened at $2.75 on Monday. The firm has a fifty day moving average price of $3.06 and a two-hundred day moving average price of $2.68. Ribbon Communications Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $3.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.23 and a quick ratio of 1.00. The company has a market cap of $472.26 million, a PE ratio of -6.88 and a beta of 1.19.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $226.40 million for the quarter, compared to analyst estimates of $233.63 million. Ribbon Communications had a positive return on equity of 3.53% and a negative net margin of 8.01%. Analysts expect that Ribbon Communications Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ribbon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th.

Insider Activity at Ribbon Communications

In related news, Director Bruns H. Grayson acquired 100,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost 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 $1,705,605.75. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Ribbon Communications news, EVP Dan Redington sold 34,452 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $3.10, for a total value of $106,801.20. Following the transaction, the executive vice president now directly owns 66,839 shares in the company, valued at $207,200.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bruns H. Grayson acquired 100,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were purchased at an average cost 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 approximately $1,705,605.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 103,000 shares of company stock valued at $297,720 and have sold 66,000 shares valued at $205,119. 1.91% of the stock is currently owned by insiders.

Ribbon Communications 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.