Quantbot Technologies LP Purchases New Shares in Infinera Co. (NASDAQ:INFN)

Quantbot Technologies LP purchased a new position in Infinera Co. (NASDAQ:INFN) during the third quarter, Holdings Channel.com reports. The firm purchased 5,932 shares of the communications equipment provider’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of INFN. Citigroup Inc. boosted its holdings in shares of Infinera by 2,104.8% in the third quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock worth $19,676,000 after buying an additional 2,782,789 shares during the period. Charles Schwab Investment Management Inc. grew its position in Infinera by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,698,808 shares of the communications equipment provider’s stock worth $11,467,000 after purchasing an additional 39,917 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Infinera during the 3rd quarter valued at $354,000. Alpine Associates Management Inc. purchased a new stake in shares of Infinera in the third quarter valued at $13,761,000. Finally, Olympiad Research LP acquired a new stake in shares of Infinera in the third quarter worth $1,388,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Rosenblatt Securities reissued a “neutral” rating and set a $6.65 price target on shares of Infinera in a research report on Wednesday, November 6th. B. Riley lowered shares of Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Performance

Shares of NASDAQ INFN opened at $6.63 on Friday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -13.81 and a beta of 1.67. The business has a 50 day simple moving average of $6.69 and a 200 day simple moving average of $6.19. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. Infinera Co. has a 52 week low of $4.18 and a 52 week high of $6.92.

Infinera (NASDAQ:INFN) last posted its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million during the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. On average, research analysts predict that Infinera Co. will post -0.25 earnings per share for the current fiscal year.

Infinera Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.