2,373 Shares in Ciena Co. (NYSE:CIEN) Purchased by Hantz Financial Services Inc.

Hantz Financial Services Inc. acquired a new stake in shares of Ciena Co. (NYSE:CIEN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,373 shares of the communications equipment provider’s stock, valued at approximately $114,000.

Other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC raised its stake in shares of Ciena by 13.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 68,956 shares of the communications equipment provider’s stock worth $3,104,000 after purchasing an additional 7,966 shares during the last quarter. National Bank of Canada FI lifted its stake in Ciena by 362.8% during the 4th quarter. National Bank of Canada FI now owns 111,507 shares of the communications equipment provider’s stock valued at $5,033,000 after acquiring an additional 87,412 shares during the period. Private Advisor Group LLC bought a new position in Ciena during the 4th quarter valued at about $238,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ciena by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 949,476 shares of the communications equipment provider’s stock valued at $42,736,000 after acquiring an additional 18,860 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Ciena in the fourth quarter worth approximately $329,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Ciena Stock Performance

Shares of NYSE CIEN opened at $57.65 on Tuesday. The stock has a market cap of $8.28 billion, a PE ratio of 55.43, a price-to-earnings-growth ratio of 6.02 and a beta of 0.94. Ciena Co. has a 1 year low of $39.94 and a 1 year high of $63.24. The firm has a fifty day moving average price of $50.61 and a 200-day moving average price of $49.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.88 and a quick ratio of 2.76.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Ciena had a return on equity of 7.16% and a net margin of 3.71%. The business had revenue of $910.80 million during the quarter, compared to analyst estimates of $895.80 million. During the same quarter in the prior year, the business posted $0.59 EPS. Ciena’s revenue for the quarter was down 19.6% compared to the same quarter last year. Equities analysts anticipate that Ciena Co. will post 1.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

CIEN has been the topic of a number of research analyst reports. Raymond James downgraded shares of Ciena from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $59.00 to $54.00 in a research report on Thursday, June 6th. Needham & Company LLC raised their price target on Ciena from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. B. Riley cut their price objective on Ciena from $68.00 to $66.00 and set a “buy” rating for the company in a report on Friday, June 7th. Morgan Stanley raised Ciena from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $53.00 to $55.00 in a research report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. cut their price target on Ciena from $67.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Ciena currently has an average rating of “Moderate Buy” and a consensus price target of $57.73.

Insider Buying and Selling

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

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.