Public Employees Retirement System of Ohio Cuts Stock Holdings in Ribbon Communications Inc. (NASDAQ:RBBN)

Public Employees Retirement System of Ohio lowered its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 16.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,474 shares of the communications equipment provider’s stock after selling 15,000 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Ribbon Communications were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Royal Bank of Canada increased its position in shares of Ribbon Communications by 135.0% during the second quarter. Royal Bank of Canada now owns 9,642 shares of the communications equipment provider’s stock worth $27,000 after acquiring an additional 5,539 shares during the period. Quantbot Technologies LP increased its position in shares of Ribbon Communications by 103.8% during the second quarter. Quantbot Technologies LP now owns 10,600 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 5,400 shares during the period. Mirabella Financial Services LLP purchased a new stake in shares of Ribbon Communications during the first quarter worth $33,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Ribbon Communications during the third quarter worth $29,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Ribbon Communications by 275.6% during the third quarter. Tower Research Capital LLC TRC now owns 11,406 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 8,369 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Buying and Selling at Ribbon Communications

In other Ribbon Communications news, EVP Dan Redington sold 34,452 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $3.10, for a total value of $106,801.20. Following the completion of the transaction, the executive vice president now owns 66,839 shares in the company, valued at $207,200.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ribbon Communications news, EVP Dan Redington sold 34,452 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $3.10, for a total value of $106,801.20. Following the completion of the transaction, the executive vice president now owns 66,839 shares in the company, valued at $207,200.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruns H. Grayson acquired 100,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was bought at an average price of $2.89 per share, with a total value of $289,000.00. Following the purchase, the director now directly owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The disclosure for this purchase can be found here. Over the last 90 days, 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 insiders.

Wall Street Analyst Weigh In

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

Ribbon Communications Stock Performance

NASDAQ:RBBN opened at $3.27 on Thursday. The firm has a market capitalization of $561.56 million, a PE ratio of -8.18 and a beta of 1.18. The business’s fifty day moving average price is $3.08 and its 200 day moving average price is $2.66. 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 Inc. has a 12 month low of $1.78 and a 12 month high of $3.65.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 EPS for the quarter, meeting the consensus estimate 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 positive return on equity of 3.53% and a negative net margin of 8.01%. On average, sell-side analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

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.