Quantbot Technologies LP Makes New Investment in Infinera Co. (NASDAQ:INFN)

Quantbot Technologies LP bought a new stake in Infinera Co. (NASDAQ:INFN) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,932 shares of the communications equipment provider’s stock, valued at approximately $40,000.

Several other large investors have also modified their holdings of the stock. Citigroup Inc. lifted its holdings in Infinera by 2,104.8% during the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock worth $19,676,000 after buying an additional 2,782,789 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Infinera by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,698,808 shares of the communications equipment provider’s stock worth $11,467,000 after purchasing an additional 39,917 shares during the period. Intech Investment Management LLC bought a new stake in Infinera during the third quarter valued at $354,000. Alpine Associates Management Inc. acquired a new stake in shares of Infinera during the third quarter worth $13,761,000. Finally, Olympiad Research LP bought a new position in shares of Infinera in the 3rd quarter worth about $1,388,000. Institutional investors own 97.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on INFN shares. B. Riley lowered shares of Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Rosenblatt Securities restated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. 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 stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Performance

INFN stock opened at $6.63 on Friday. The company has a 50-day simple moving average of $6.69 and a 200 day simple moving average of $6.19. The company has a market capitalization of $1.57 billion, a P/E ratio of -13.81 and a beta of 1.67. 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 fifty-two week low of $4.18 and a fifty-two week high of $6.92.

Infinera (NASDAQ:INFN) last issued its quarterly 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 return on equity of 45.12% and a negative net margin of 7.62%. The company had revenue of $354.40 million during the quarter, compared to analyst estimates of $401.96 million. Sell-side analysts predict that Infinera Co. will post -0.25 earnings per share 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.