GABELLI & Co INVESTMENT ADVISERS INC. Purchases 73,049 Shares of Infinera Co. (NASDAQ:INFN)

GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in Infinera Co. (NASDAQ:INFN) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,781,476 shares of the communications equipment provider’s stock after purchasing an additional 73,049 shares during the quarter. Infinera comprises 2.1% of GABELLI & Co INVESTMENT ADVISERS INC.’s portfolio, making the stock its 16th biggest holding. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.75% of Infinera worth $12,133,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vestcor Inc bought a new stake in shares of Infinera in the fourth quarter valued at about $34,000. LPL Financial LLC bought a new stake in shares of Infinera in the 4th quarter worth about $70,000. Wealthfront Advisers LLC acquired a new stake in shares of Infinera during the fourth quarter worth approximately $76,000. Cibc World Markets Corp bought a new position in shares of Infinera in the fourth quarter valued at approximately $124,000. Finally, Mariner LLC boosted its stake in Infinera by 23.2% in the fourth quarter. Mariner LLC now owns 23,450 shares of the communications equipment provider’s stock worth $154,000 after purchasing an additional 4,422 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

Infinera Price Performance

Shares of NASDAQ:INFN opened at $6.64 on Tuesday. The company has a market capitalization of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63. Infinera Co. has a 52 week low of $4.49 and a 52 week high of $6.92. 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 company has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $6.64.

Infinera (NASDAQ:INFN) last announced its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.15). The company had revenue of $414.39 million for the quarter, compared to analyst estimates of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. Analysts forecast that Infinera Co. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Infinera in a research note on Sunday. They issued a “hold” rating for the company. One 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. According to MarketBeat.com, Infinera presently has a consensus rating of “Hold” and a consensus price target of $7.09.

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.