Boussard & Gavaudan Investment Management LLP Raises Position in Infinera Co. (NASDAQ:INFN)

Boussard & Gavaudan Investment Management LLP increased its holdings in Infinera Co. (NASDAQ:INFN) by 3,666.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,298 shares of the communications equipment provider’s stock after purchasing an additional 183,298 shares during the period. Boussard & Gavaudan Investment Management LLP’s holdings in Infinera were worth $1,253,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Palumbo Wealth Management LLC boosted its stake in Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after buying an additional 1,850 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Infinera by 3.9% in the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock worth $355,000 after acquiring an additional 2,180 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Infinera by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 102,869 shares of the communications equipment provider’s stock valued at $626,000 after purchasing an additional 4,266 shares during the period. Quantbot Technologies LP acquired a new position in Infinera during the third quarter worth approximately $40,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Infinera by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 148,324 shares of the communications equipment provider’s stock worth $895,000 after purchasing an additional 6,617 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

Infinera Price Performance

Shares of NASDAQ:INFN opened at $6.61 on Thursday. The company’s fifty day moving average is $6.71 and its two-hundred day moving average is $6.13. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. Infinera Co. has a 1-year low of $3.79 and a 1-year high of $6.92. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.77 and a beta of 1.71.

Infinera (NASDAQ:INFN) last issued its earnings results 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). The business had revenue of $354.40 million during the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. Equities analysts anticipate that Infinera Co. will post -0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INFN. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Berenberg Bank raised shares of Infinera to a “hold” rating in a research report on Monday, August 5th. B. Riley lowered shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $6.65 price target 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 issued a buy rating to the stock. According to MarketBeat, Infinera has an average rating of “Hold” and an average price target of $7.09.

About Infinera

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.