Janus Henderson Group PLC Acquires 269,372 Shares of Infinera Co. (NASDAQ:INFN)

Janus Henderson Group PLC raised its holdings in Infinera Co. (NASDAQ:INFN) by 332.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 350,520 shares of the communications equipment provider’s stock after purchasing an additional 269,372 shares during the period. Janus Henderson Group PLC’s holdings in Infinera were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of INFN. Quantbot Technologies LP bought a new stake in Infinera in the third quarter valued at $40,000. EverSource Wealth Advisors LLC bought a new stake in Infinera in the second quarter valued at $104,000. Headlands Technologies LLC bought a new stake in Infinera in the second quarter valued at $112,000. Algert Global LLC bought a new stake in Infinera in the second quarter valued at $128,000. Finally, Palumbo Wealth Management LLC grew its position in Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after acquiring an additional 1,850 shares during the period. 97.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. B. Riley cut Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $6.65 target price on shares of Infinera in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Stock Down 0.3 %

Shares of INFN opened at $6.58 on Friday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -13.71 and a beta of 1.67. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The business’s fifty day moving average price is $6.67 and its two-hundred day moving average price is $6.23. Infinera Co. has a 52 week low of $4.18 and a 52 week high of $6.92.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) 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 the consensus estimate of $401.96 million. On average, analysts predict that Infinera Co. will post -0.25 earnings per share for the current year.

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.