AQR Capital Management LLC Acquires 16,332 Shares of Infinera Co. (NASDAQ:INFN)

AQR Capital Management LLC increased its position in Infinera Co. (NASDAQ:INFN) by 22.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,282 shares of the communications equipment provider’s stock after purchasing an additional 16,332 shares during the quarter. AQR Capital Management LLC’s holdings in Infinera were worth $544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hood River Capital Management LLC lifted its position in Infinera by 14.2% in the second quarter. Hood River Capital Management LLC now owns 4,753,842 shares of the communications equipment provider’s stock worth $28,951,000 after purchasing an additional 591,611 shares during the period. EverSource Wealth Advisors LLC acquired a new position in Infinera during the second quarter worth $104,000. Gabelli Funds LLC acquired a new position in Infinera during the second quarter worth $1,200,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Infinera by 22.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after acquiring an additional 2,025,658 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Infinera by 45.8% during the second quarter. Sei Investments Co. now owns 1,085,822 shares of the communications equipment provider’s stock worth $6,613,000 after acquiring an additional 341,126 shares in the last quarter. 97.54% of the stock is owned by institutional investors.

Infinera Stock Performance

Shares of INFN opened at $6.70 on Tuesday. The firm has a 50-day moving average of $6.35 and a 200-day moving average of $5.81. Infinera Co. has a one year low of $2.82 and a one year high of $6.92. The company has a market cap of $1.57 billion, a PE ratio of -19.71 and a beta of 1.72. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94.

Infinera (NASDAQ:INFN) last announced its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The business’s revenue was down 8.9% compared to the same quarter last year. As a group, equities analysts forecast that Infinera Co. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

INFN has been the subject of a number of research reports. B. Riley lowered their target price on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their target price on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Berenberg Bank upgraded Infinera to a “hold” rating in a report on Monday, August 5th. Morgan Stanley increased their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research report on Friday, June 28th. Finally, Rosenblatt Securities lowered shares of Infinera from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $8.00 to $6.65 in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Infinera presently has a consensus rating of “Hold” and an average 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.