Ribbon Communications Inc. (NASDAQ:RBBN) major shareholder buys $4,999,999.20 worth of shares | Panda Anku

Ribbon Communications Inc. (NASDAQ:RBBN – Get Rating) major shareholder Swarth Investments Ltd. acquired 1,639,344 shares of Ribbon Communications in a transaction dated Tuesday, August 16. The shares were purchased at an average price of $3.05 per share for a total transaction of $4,999,999.20. Upon closing of the transaction, the insider now directly owns 27,435,739 shares of the company, valued at approximately $83,679,003.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this link. Major shareholders who own more than 10% of a company’s stock must disclose their transactions to the SEC.

Ribbon Communications Trading up 6.6%

RBBN rose $0.23 on Thursday to hit $3.69. 20,216 shares of the Company were exchanged compared to an average volume of 371,077. The company has a 50-day simple moving average of $3.14 and a 200-day simple moving average of $3.23. The company has a debt to equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.20. Ribbon Communications Inc. has a 12-month low of $2.57 and a 12-month high of $6.85. The stock has a market cap of $555.16 million, a P/E of -2.01 and a beta of 0.95.

Wall Street analysts forecast growth

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Several brokers have recently commented on RBBN. B. Riley lowered its price target on Ribbon Communications from $8.00 to $7.00 in a research note on Thursday, April 28. StockNews.com lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Friday, August 5th.

Hedge funds emphasize ribbon communication

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new interest in Ribbon Communications for approximately $89,000 during the fourth quarter. Penserra Capital Management LLC increased its position in shares of Ribbon Communications by 47.6% during the fourth quarter. Penserra Capital Management LLC now owns 1,190,176 shares of the communications equipment provider worth $7,200,000 after purchasing an additional 383,896 shares last quarter. Wedbush Securities Inc. increased its position in Ribbon Communications shares by 38.9% during the first quarter. Wedbush Securities Inc. now owns 23,609 shares of the communications equipment maker, valued at $73,000, after purchasing an additional 6,609 shares last quarter. Koss Olinger Consulting LLC acquired a new interest in Ribbon Communications valued at approximately $74,000 during the fourth quarter. Finally, Alpha Paradigm Partners LLC purchased a new interest in Ribbon Communications valued at approximately $129,000 during Q4. 66.08% of the shares are currently held by institutional investors.

Ribbon Communications Company Profile

(get rating)

Ribbon Communications Inc provides communications technology in the United States, Europe, Middle East, Africa, Asia Pacific and internationally. It operates in two segments: Cloud and Edge and Optical IP Networks. The Cloud and Edge segment offers software and hardware products; and solutions and services to enable voice over Internet Protocol communications, voice over long-term evolution and voice over 5G communications, and unified communications and collaboration.

Further reading

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