Atria Investments Inc Sells 2,452 Shares of Infinera Co. (NASDAQ:INFN)

Atria Investments Inc trimmed its holdings in Infinera Co. (NASDAQ:INFN) by 15.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,763 shares of the communications equipment provider’s stock after selling 2,452 shares during the period. Atria Investments Inc’s holdings in Infinera were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Infinera by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after acquiring an additional 2,299,025 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of Infinera during the second quarter valued at approximately $666,000. Water Island Capital LLC bought a new stake in Infinera in the 2nd quarter worth $9,196,000. AIGH Capital Management LLC grew its stake in shares of Infinera by 278.8% in the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock worth $20,515,000 after purchasing an additional 2,479,272 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Infinera in the 3rd quarter worth approximately $556,000. Institutional investors own 97.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INFN shares. JPMorgan Chase & Co. upped their price target on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. B. Riley cut shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research report on Monday, August 5th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Infinera has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Stock Up 0.5 %

Shares of INFN stock opened at $6.64 on Monday. The stock has a market cap of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.71. The company’s fifty day simple moving average is $6.71 and its two-hundred day simple moving average is $6.11. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. Infinera Co. has a 52 week low of $3.79 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) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The business had revenue of $354.40 million during the quarter, compared to analysts’ expectations of $401.96 million. Analysts predict that Infinera Co. will post -0.22 EPS for the current fiscal year.

Infinera Company 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.