Infinera Co. (NASDAQ:INFN) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC lowered its holdings in shares of Infinera Co. (NASDAQ:INFN) by 17.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,159,463 shares of the communications equipment provider’s stock after selling 236,903 shares during the quarter. Kennedy Capital Management LLC’s holdings in Infinera were worth $7,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of INFN. Russell Investments Group Ltd. raised its holdings in shares of Infinera by 1.9% in the fourth quarter. Russell Investments Group Ltd. now owns 110,687 shares of the communications equipment provider’s stock valued at $727,000 after buying an additional 2,097 shares during the last quarter. Victory Capital Management Inc. increased its position in Infinera by 3.0% in the 4th quarter. Victory Capital Management Inc. now owns 130,242 shares of the communications equipment provider’s stock valued at $856,000 after acquiring an additional 3,776 shares during the period. Vestcor Inc purchased a new stake in Infinera during the 4th quarter valued at approximately $34,000. Rhumbline Advisers lifted its position in Infinera by 1.9% during the 4th quarter. Rhumbline Advisers now owns 292,741 shares of the communications equipment provider’s stock worth $1,923,000 after acquiring an additional 5,445 shares during the period. Finally, Tidal Investments LLC lifted its position in Infinera by 4.9% during the 3rd quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock worth $870,000 after acquiring an additional 6,066 shares during the period. 97.54% of the stock is owned by hedge funds and other institutional investors.

Infinera Price Performance

Shares of INFN opened at $6.64 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63. The stock’s 50 day moving average is $6.64 and its two-hundred day moving average is $6.65. Infinera Co. has a twelve month low of $4.49 and a twelve month high of $6.92. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The business had revenue of $414.39 million for the quarter, compared to analyst estimates of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. Research analysts anticipate that Infinera Co. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Infinera in a report on Saturday, April 5th. They issued a “hold” rating on the stock. One 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.09.

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.