Trexquant Investment LP Purchases Shares of 47,261 Ciena Co. (NYSE:CIEN)

Trexquant Investment LP purchased a new stake in Ciena Co. (NYSE:CIEN) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 47,261 shares of the communications equipment provider’s stock, valued at approximately $1,765,000.

Other large investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. acquired a new position in Ciena in the first quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new position in Ciena in the first quarter valued at about $37,000. Investors Research Corp acquired a new position in Ciena in the first quarter valued at about $39,000. PRW Wealth Management LLC acquired a new position in Ciena in the fourth quarter valued at about $38,000. Finally, Ffcm LLC lifted its position in shares of Ciena by 355.7% during the fourth quarter. Ffcm LLC now owns 1,276 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 996 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

NYSE:CIEN traded up $0.29 during trading hours on Friday, hitting $42.76. The stock had a trading volume of 77,684 shares, compared to its average volume of 3,477,739. Ciena Co. has a one year low of $24.56 and a one year high of $46.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.36 and a current ratio of 2.83. The company has a market capitalization of $6.62 billion, a PE ratio of 38.18, a PEG ratio of 1.44 and a beta of 1.06.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Ciena had a net margin of 5.98% and a return on equity of 12.37%. The firm had revenue of $865.00 million during the quarter, compared to the consensus estimate of $818.23 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts forecast that Ciena Co. will post 1.72 earnings per share for the current year.

In other Ciena news, Director Patrick H. Nettles sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $37.95, for a total value of $569,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $33.37, for a total transaction of $66,740.00. The disclosure for this sale can be found here. Insiders sold 113,504 shares of company stock valued at $4,267,881 in the last ninety days. Insiders own 1.20% of the company’s stock.

CIEN has been the topic of a number of research reports. B. Riley upped their target price on shares of Ciena from $42.20 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Morgan Stanley set a $41.00 target price on shares of Ciena and gave the stock a “hold” rating in a research report on Friday, June 7th. Zacks Investment Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a research report on Friday, March 8th. Dougherty & Co upped their target price on shares of Ciena from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Raymond James upped their target price on shares of Ciena from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Ciena has a consensus rating of “Buy” and an average target price of $45.83.

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Ciena Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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