14,550 Shares in Ribbon Communications Inc. $RBBN Acquired by Almanack Investment Partners LLC.

Almanack Investment Partners LLC. acquired a new position in Ribbon Communications Inc. (NASDAQ:RBBN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,550 shares of the communications equipment provider’s stock, valued at approximately $58,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ballentine Partners LLC bought a new position in Ribbon Communications in the second quarter worth approximately $44,000. Allianz Asset Management GmbH bought a new position in Ribbon Communications in the first quarter worth approximately $57,000. Strs Ohio bought a new position in Ribbon Communications in the first quarter worth approximately $69,000. First Bank & Trust bought a new position in Ribbon Communications in the first quarter worth approximately $115,000. Finally, Vestmark Advisory Solutions Inc. boosted its position in Ribbon Communications by 118.3% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 30,138 shares of the communications equipment provider’s stock valued at $118,000 after acquiring an additional 16,335 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ribbon Communications in a research report on Wednesday, October 8th. Wall Street Zen raised Ribbon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $6.00 target price on shares of Ribbon Communications in a research report on Thursday, September 11th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ribbon Communications currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Ribbon Communications Stock Performance

Shares of RBBN opened at $3.70 on Tuesday. Ribbon Communications Inc. has a 12 month low of $3.01 and a 12 month high of $5.38. The stock has a fifty day moving average price of $3.88 and a 200-day moving average price of $3.77. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88. The firm has a market cap of $655.20 million, a PE ratio of -14.80 and a beta of 1.36.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Monday, March 27th. The communications equipment provider reported $0.01 EPS for the quarter. Ribbon Communications had a positive return on equity of 7.08% and a negative net margin of 5.14%.The firm had revenue of $100.28 million during the quarter. Equities research analysts predict that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Ribbon Communications

In other news, EVP Dan Redington sold 14,176 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $4.02, for a total transaction of $56,987.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Beatriz V. Infante sold 8,690 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $3.98, for a total value of $34,586.20. Following the sale, the director owned 343,224 shares of the company’s stock, valued at approximately $1,366,031.52. This represents a 2.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,300 shares of company stock valued at $801,173. 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.