Optimize Financial Inc Takes $1.81 Million Position in Infinera Co. (NASDAQ:INFN)

Optimize Financial Inc bought a new position in shares of Infinera Co. (NASDAQ:INFN) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 275,970 shares of the communications equipment provider’s stock, valued at approximately $1,813,000. Infinera accounts for approximately 1.4% of Optimize Financial Inc’s holdings, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its holdings in Infinera by 1.9% in the 4th quarter. Russell Investments Group Ltd. now owns 110,687 shares of the communications equipment provider’s stock worth $727,000 after buying an additional 2,097 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Infinera by 3.0% in the fourth quarter. Victory Capital Management Inc. now owns 130,242 shares of the communications equipment provider’s stock worth $856,000 after acquiring an additional 3,776 shares during the last quarter. Vestcor Inc purchased a new stake in shares of Infinera during the fourth quarter worth approximately $34,000. Rhumbline Advisers lifted its holdings in Infinera by 1.9% in the 4th quarter. Rhumbline Advisers now owns 292,741 shares of the communications equipment provider’s stock valued at $1,923,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in Infinera by 4.9% in the 3rd quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock valued at $870,000 after purchasing an additional 6,066 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Infinera in a research report on Saturday, April 5th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.09.

Infinera Stock Performance

Infinera stock opened at $6.64 on Friday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. Infinera Co. has a 1-year low of $4.49 and a 1-year high of $6.92. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $6.64 and a 200-day simple moving average of $6.65.

Infinera (NASDAQ:INFN) last released its quarterly earnings results 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 analysts’ expectations of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. On average, analysts expect that Infinera Co. will post -0.33 EPS for the current year.

About Infinera

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.