Ribbon Communications Inc. (NASDAQ:RBBN) EVP Michael R. Swade sold 13,979 shares of Ribbon Communications stock in a transaction on Friday, March 16th. The shares were sold at an average price of $5.14, for a total transaction of $71,852.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Ribbon Communications stock remained flat at $$5.35 during mid-day trading on Thursday. 25,374 shares of the company’s stock were exchanged, compared to its average volume of 540,156. The firm has a market cap of $533.09, a P/E ratio of -9.22 and a beta of 1.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.16. Ribbon Communications Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $9.05.
Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Thursday, March 1st. The communications equipment provider reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The business had revenue of $169.50 million for the quarter, compared to the consensus estimate of $150.25 million. Ribbon Communications had a negative net margin of 10.68% and a positive return on equity of 3.22%. The business’s revenue for the quarter was up 150.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. analysts forecast that Ribbon Communications Inc. will post -0.28 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC bought a new stake in Ribbon Communications during the 4th quarter valued at $186,000. Millennium Management LLC bought a new stake in Ribbon Communications during the 4th quarter valued at $1,375,000. Engine Capital Management LLC bought a new stake in Ribbon Communications during the 4th quarter valued at $3,377,000. TIAA CREF Investment Management LLC bought a new stake in Ribbon Communications during the 4th quarter valued at $2,017,000. Finally, Teachers Advisors LLC bought a new stake in Ribbon Communications during the 4th quarter valued at $861,000. Institutional investors and hedge funds own 84.39% of the company’s stock.
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Ribbon Communications Company Profile
Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.
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