Sanctuary Advisors LLC Has $744,000 Holdings in Ciena Co. (NYSE:CIEN)

Sanctuary Advisors LLC grew its position in Ciena Co. (NYSE:CIEN) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,794 shares of the communications equipment provider’s stock after purchasing an additional 479 shares during the period. Sanctuary Advisors LLC’s holdings in Ciena were worth $744,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Rhumbline Advisers increased its position in Ciena by 0.7% in the 4th quarter. Rhumbline Advisers now owns 390,148 shares of the communications equipment provider’s stock worth $33,088,000 after purchasing an additional 2,594 shares during the last quarter. First Merchants Corp acquired a new position in shares of Ciena during the 4th quarter valued at about $207,000. Louisiana State Employees Retirement System increased its holdings in shares of Ciena by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 40,100 shares of the communications equipment provider’s stock valued at $3,401,000 after acquiring an additional 300 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in shares of Ciena during the 4th quarter valued at about $1,129,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Ciena by 21.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 799,546 shares of the communications equipment provider’s stock valued at $67,810,000 after acquiring an additional 143,350 shares during the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Price Performance

Shares of CIEN stock opened at $79.49 on Friday. The stock has a 50 day moving average of $85.85 and a two-hundred day moving average of $72.19. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The company has a market capitalization of $11.33 billion, a P/E ratio of 139.45, a P/E/G ratio of 1.54 and a beta of 0.88.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). Ciena had a return on equity of 4.72% and a net margin of 2.09%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the business posted $0.56 EPS. Ciena’s revenue was down .5% compared to the same quarter last year. As a group, equities analysts expect that Ciena Co. will post 1.6 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on CIEN shares. Needham & Company LLC reissued a “buy” rating and set a $95.00 price objective on shares of Ciena in a report on Friday, January 10th. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and increased their price objective for the company from $70.00 to $95.00 in a report on Friday, December 13th. Citigroup increased their price objective on Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays increased their price objective on Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. raised Ciena from a “neutral” rating to an “overweight” rating and raised their target price for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.77.

Insiders Place Their Bets

In related news, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50. Following the completion of the transaction, the senior vice president now owns 49,547 shares in the company, valued at $4,256,582.77. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $84.86, for a total value of $577,048.00. Following the transaction, the chief executive officer now owns 412,149 shares of the company’s stock, valued at $34,974,964.14. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,642 shares of company stock worth $4,818,176. 0.93% of the stock is currently owned by company insiders.

Ciena Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.