Bailard Inc. Invests $257,000 in Ribbon Communications Inc. (NASDAQ:RBBN)

Bailard Inc. acquired a new position in shares of Ribbon Communications Inc. (NASDAQ:RBBN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,473 shares of the communications equipment provider’s stock, valued at approximately $257,000. Bailard Inc. owned 0.05% of Ribbon Communications as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RBBN. Principal Financial Group Inc. bought a new position in shares of Ribbon Communications in the 3rd quarter worth about $35,000. NewEdge Wealth LLC acquired a new position in Ribbon Communications in the fourth quarter valued at approximately $40,000. Caxton Associates LP bought a new position in shares of Ribbon Communications during the 3rd quarter worth approximately $41,000. Qtron Investments LLC grew its position in shares of Ribbon Communications by 64.1% during the 3rd quarter. Qtron Investments LLC now owns 17,986 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 7,025 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Ribbon Communications by 22.0% in the 3rd quarter. New York State Common Retirement Fund now owns 39,646 shares of the communications equipment provider’s stock valued at $106,000 after acquiring an additional 7,146 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Analyst Ratings Changes

RBBN has been the topic of several research analyst reports. B. Riley increased their target price on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com upgraded Ribbon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th.

Ribbon Communications Stock Down 3.4 %

Shares of RBBN opened at $3.13 on Monday. The business’s fifty day moving average is $2.97 and its 200 day moving average is $2.69. Ribbon Communications Inc. has a 12-month low of $1.78 and a 12-month high of $3.65. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $226.40 million for the quarter, compared to analyst estimates of $233.63 million. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%. On average, research analysts predict that Ribbon Communications Inc. will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling at Ribbon Communications

In related news, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $2.89 per share, with a total value of $289,000.00. Following the completion of the purchase, the director now directly owns 590,175 shares in the company, valued at approximately $1,705,605.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Bruns H. Grayson bought 100,000 shares of Ribbon Communications stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $2.89 per share, for a total transaction of $289,000.00. Following the purchase, the director now directly owns 590,175 shares in the company, valued at approximately $1,705,605.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dan Redington sold 34,452 shares of the stock in a transaction dated 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 owns 66,839 shares of the company’s stock, valued at approximately $207,200.90. The disclosure for this sale can be found here. In the last quarter, insiders purchased 103,000 shares of company stock worth $297,720 and sold 66,000 shares worth $205,119. Company insiders own 2.10% of the company’s stock.

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.