Peconic Partners LLC purchased a new stake in Ciena during the first quarter valued at about $2,361,000. Shares are trading -12.2% away from the 52-week high mark of $26.84 and +36.51% far from the 52-week bottom of $17.20. Louisiana State Employees Retirement System now owns 35,700 shares of the communications equipment provider's stock valued at $778,000 after buying an additional 1,300 shares in the last quarter.
Other institutional investors also recently made changes to their positions in the company. NY boosted its stake in Ciena by 0.3% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 350,026 shares of the communications equipment provider's stock valued at $8,264,000 after buying an additional 199,638 shares during the last quarter.
News coverage about Ciena (NYSE:CIEN) has been trending somewhat negative this week, according to Alpha One. Bank of Montreal Can increased its position in Ciena by 34.6% in the third quarter. FNY Partners Fund LP boosted its stake in Ciena by 16.8% in the first quarter. State Street Corp increased its stake in shares of Ciena by 3.6% in the first quarter. Aperio Group LLC now owns 19,702 shares of the communications equipment provider's stock valued at $430,000 after buying an additional 639 shares in the last quarter. Ciena has $3500 highest and $17 lowest target. (CIEN) traded up 15.08% during mid-day trading on Thursday, hitting $27.02. Insiders have sold 65,841 shares of company stock worth $1,509,788 over the last ninety days. The stock has a market cap of $3.84 billion, a P/E ratio of 44.65 and a beta of 1.66. Ciena Co. Ciena also saw unusually large options trading on Wednesday. "If WBA raises its share repurchase authorization to $5B (which we believe is reasonable given its FCF outlook and the excess cash it has generated since the RAD deal was announced) we believe the company could increase EPS by $0.17 (3%) & $0.46 (7%) in FY18 & FY19, respectively", he commented. This represents an increase of 706% compared to the typical daily volume of 884 put options.
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Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, June 1st. The company generated a return on equity (ROE) of -5.60%.
The company has mean EPS estimate of 0.48 reported by 22 number of analyst for the quarter ending Current Qtr.(Apr2017). The business's revenue was up 10.3% on a year-over-year basis. FRODSHAM JAMES sold $50,942 worth of Ciena Corporation (NYSE:CIEN) on Tuesday, March 21. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of USA and worldwide copyright and trademark law. If you are accessing this report on another website, it was stolen and reposted in violation of USA & worldwide copyright laws. The correct version of this story can be read at https://transcriptdaily.com/2017/06/01/ciena-co-cien-stake-raised-by-state-treasurer-state-of-michigan-updated.html. Now Ciena Corporation's current price is $11.52 shy of the official highest sell-side analyst price target on Wall Street. On Monday, September 5 the stock rating was maintained by Deutsche Bank with "Hold". Needham & Company LLC reissued a "buy" rating and issued a $30.00 price target on shares of Ciena in a research note on Saturday, March 11th. Bank of America Corp cut Ciena from a "buy" rating to a "neutral" rating and raised their target price for the stock from $26.39 to $28.00 in a research report on Friday, March 3rd. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. BMO Capital Markets now has a $30.00 price target on the communications equipment provider's stock. Company insiders own 1.45% of the company's stock. The stock was sold at an average price of $21.66, for a total transaction of $54,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Institutional ownership can eventually exceed 100 percent of float, which means that, in addition to all the available shares, institutions have also bought up all the borrowed shares from short sellers who are betting that the stock will decline. The shares were sold at an average price of $23.25, for a total value of $23,250.00.