Versor Investments LP acquires 7,700 shares of Ciena Co. (NYSE:CIEN)

Versor Investments LP raised its holdings in shares of Ciena Co. (NYSE:CIEN – Free Report) by 167.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,300 shares of the communications equipment provider’s stock after acquiring an additional 7,700 shares during the quarter. Versor Investments LP’s holdings in Ciena were worth $593,000 as of its most recent SEC filing.

Other hedge funds have added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Ciena by 1,171.4% in the second quarter. SG Americas Securities LLC now owns 44,854 shares of the communications equipment provider’s stock valued at $2,161,000 after buying an additional 41,326 shares during the period. First Hawaiian Bank purchased a new stake in Ciena in the second quarter valued at approximately $661,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ciena by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 949,476 shares of the communications equipment provider’s stock worth $42,736,000 after acquiring an additional 18,860 shares during the period. Capital Fund Management SA grew its position in shares of Ciena by 67.3% in the 4th quarter. Capital Fund Management SA now owns 225,172 shares of the communications equipment provider’s stock worth $10,135,000 after purchasing an additional 90,610 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Ciena during the fourth quarter valued at approximately $73,476,000. Institutional investors and hedge funds own 91.99% of the company’s shares.

Changes in Analyst Ratings

A number of research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Ciena from $62.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday. B. Riley cut their price objective on shares of Ciena from $68.00 to $66.00 and set a “buy” rating for the company in a report on Friday, June 7th. JPMorgan Chase & Co. cut their target price on shares of Ciena from $67.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Needham & Company LLC upped their target price on Ciena from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Finally, Barclays reduced their price objective on Ciena from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Ciena presently has a consensus rating of “Moderate Buy” and an average price target of $57.25, according to MarketBeat.

Get the latest research report on Ciena

Ciena Stock Performance

Ciena stock opened at $55.32 on Wednesday. The company has a quick ratio of 2.76, a current ratio of 3.88, and a debt-to-equity ratio of 0.53. The stock has a market cap of $7.95 billion, a PE ratio of 53.19, a P/E/G ratio of 6.02 and a beta of 0.94. Ciena Co. has a 12-month low of $39.94 and a 12-month high of $63.24. The company’s 50-day moving average price is $50.77, and its two-hundred-day moving average price is $49.94.

Ciena (NYSE:CIEN – Get Free Report ) last announced its quarterly earnings results on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. Ciena had a net margin of 3.71% and a return on equity of 7.16%. The company had revenue of $910.80 million for the quarter, compared to analyst estimates of $895.80 million. During the same period in the previous year, the firm posted EPS of $0.59. The company’s revenue fell 19.6% year over year. As a group, analysts expect Ciena Co. to post 1.15 earnings per share for the current fiscal year.

Insider buying and selling

In other Ciena news, SVP Jason Phipps sold 2,712 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $48.29, for a total value of $130,962.48. Following the sale, the senior vice president now owns 96,000 shares in the company, valued at approximately $4,635,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.81, for a total value of $170,835.00. Following the transaction, the senior vice president now owns 212,421 shares in the company, valued at approximately $10,368,269.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, SVP Jason Phipps sold 2,712 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $48.29, for a total transaction of $130,962.48. Following the completion of the sale, the senior vice president now directly owns 96,000 shares in the company, valued at $4,635,840. The disclosure for this sale can be found here. 0.83% of shares are owned by corporate insiders.

Ciena Profile

(Free Report)

Ciena Corporation provides hardware and software services for the delivery of video, data and voice traffic, aggregation and access to the worldwide communications network. The company’s Network Platforms segment provides coherent optical transport convergence, open optical networks, optical transport network switching, IP routing and switching services.

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