ABC Arbitrage SA Invests $2.31 Million in Infinera Co. (NASDAQ:INFN)

ABC Arbitrage SA bought a new position in shares of Infinera Co. (NASDAQ:INFN) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 351,002 shares of the communications equipment provider’s stock, valued at approximately $2,306,000.

A number of other institutional investors have also modified their holdings of INFN. Creative Planning increased its position in shares of Infinera by 87.3% during the third quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock worth $205,000 after acquiring an additional 14,193 shares during the period. Palumbo Wealth Management LLC boosted its stake in shares of Infinera by 8.4% during the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares in the last quarter. Olympiad Research LP bought a new position in shares of Infinera during the third quarter valued at approximately $1,388,000. Alpine Associates Management Inc. bought a new position in shares of Infinera during the third quarter valued at approximately $13,761,000. Finally, Intech Investment Management LLC bought a new position in shares of Infinera during the third quarter valued at approximately $354,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

Infinera Price Performance

NASDAQ:INFN opened at $6.65 on Friday. Infinera Co. has a 12 month low of $4.41 and a 12 month high of $6.92. The firm has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $6.51. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INFN shares. 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. B. Riley downgraded shares of Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.