GSA Capital Partners LLP Purchases 12,967 Shares of Ciena Co. (NYSE:CIEN)

GSA Capital Partners LLP boosted its position in shares of Ciena Co. (NYSE:CIEN) by 66.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,336 shares of the communications equipment provider’s stock after acquiring an additional 12,967 shares during the period. GSA Capital Partners LLP’s holdings in Ciena were worth $1,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Flagship Harbor Advisors LLC increased its stake in Ciena by 98.5% during the second quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 320 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Ciena during the first quarter valued at approximately $37,000. Coastal Capital Group Inc. acquired a new stake in Ciena during the second quarter valued at approximately $41,000. Investors Research Corp acquired a new stake in Ciena during the first quarter valued at approximately $39,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in Ciena during the first quarter valued at approximately $57,000. Hedge funds and other institutional investors own 88.05% of the company’s stock.

Shares of CIEN traded down $1.18 on Friday, hitting $40.01. The company’s stock had a trading volume of 1,907,494 shares, compared to its average volume of 1,694,336. The company has a market capitalization of $6.39 billion, a PE ratio of 35.72, a PEG ratio of 1.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.83 and a quick ratio of 2.36. Ciena Co. has a fifty-two week low of $27.21 and a fifty-two week high of $46.78. The company has a 50 day moving average price of $43.33 and a 200 day moving average price of $40.13.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. Ciena had a return on equity of 12.37% and a net margin of 5.98%. The business had revenue of $865.00 million for the quarter, compared to the consensus estimate of $818.23 million. During the same period in the previous year, the business earned $0.23 EPS. Ciena’s revenue was up 18.5% compared to the same quarter last year. On average, equities analysts forecast that Ciena Co. will post 1.74 EPS for the current year.

In related news, CEO Gary B. Smith sold 9,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $44.38, for a total value of $426,048.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Frodsham sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.12, for a total transaction of $86,240.00. The disclosure for this sale can be found here. Insiders sold a total of 88,789 shares of company stock valued at $3,825,067 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

CIEN has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price objective on Ciena from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, June 7th. Jefferies Financial Group lifted their price objective on Ciena from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 7th. Raymond James lifted their price objective on Ciena from $48.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Barclays initiated coverage on Ciena in a report on Wednesday, August 7th. They set an “overweight” rating and a $50.00 price objective on the stock. Finally, TheStreet raised Ciena from a “c+” rating to a “b” rating in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $46.71.

Ciena Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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