Soros Fund Management LLC

recently revealed that they own a 10% stake in EXFO Inc (NASDAQ:EXFO) (TSE:EXF) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, August 4th. The investor owns 2,306,010 shares of the stock valued at about $9,569,942. The reporting parties listed on the disclosure included Soros Fund Management LLC, George Soros and Robert Soros. The filing is available through EDGAR at this link.

Soros Fund Management LLC

provided the following explanation of their ownership:

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Several other hedge funds have also recently bought and sold shares of EXFO. Acadian Asset Management LLC raised its stake in shares of EXFO by 1,114.1% in the first quarter. Acadian Asset Management LLC now owns 86,200 shares of the communications equipment provider’s stock worth $451,000 after buying an additional 79,100 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of EXFO by 20.7% in the first quarter. Hillsdale Investment Management Inc. now owns 187,000 shares of the communications equipment provider’s stock worth $980,000 after buying an additional 32,100 shares during the period. TD Asset Management Inc. increased its position in EXFO by 11.1% in the second quarter. TD Asset Management Inc. now owns 234,700 shares of the communications equipment provider’s stock worth $1,093,000 after buying an additional 23,500 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in EXFO by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,537,890 shares of the communications equipment provider’s stock worth $7,997,000 after buying an additional 162,510 shares in the last quarter. Institutional investors own 16.65% of the company’s stock.

Shares of EXFO Inc (NASDAQ:EXFO) remained flat at $4.15 during trading on Monday. 12,936 shares of the stock traded hands. The company has a market capitalization of $227.02 million, a P/E ratio of 103.75 and a beta of 0.55. The company’s 50-day moving average is $4.43 and its 200 day moving average is $4.98. EXFO Inc has a 12-month low of $3.14 and a 12-month high of $6.15.

EXFO (NASDAQ:EXFO) (TSE:EXF) last released its quarterly earnings results on Thursday, June 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.06. EXFO had a net margin of 0.93% and a return on equity of 2.76%. The company had revenue of $58.50 million during the quarter, compared to the consensus estimate of $61.61 million. The company’s revenue was down 3.8% on a year-over-year basis.

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A number of equities analysts have commented on EXFO shares. Zacks Investment Research raised shares of EXFO from a “sell” rating to a “hold” rating in a report on Tuesday, May 30th. National Bank Financial initiated coverage on shares of EXFO in a report on Thursday, April 20th. They set a “sector perform” rating and a $5.50 price target for the company. Canaccord Genuity reissued a “hold” rating and set a $5.75 price target on shares of EXFO in a report on Tuesday, May 2nd. TheStreet downgraded shares of EXFO from a “b” rating to a “c+” rating in a report on Friday, July 7th. Finally, Royal Bank Of Canada reduced their price target on shares of EXFO from $5.50 to $5.25 and set a “sector perform” rating for the company in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. EXFO currently has a consensus rating of “Hold” and an average price target of $5.63.

About EXFO

EXFO Inc is a Canada-based company, which provides communications service providers (CSPs) and data center, cloud and Web-scale operators with field test, service assurance and analytics solutions to ensure the deployment, maintenance and management of physical, virtual, fixed and mobile networks. It focuses on network infrastructures: fourth generation (4G)/long-term evolution (LTE), wireless backhaul, small cells and distributed antenna systems (DAS), 100G network upgrades and fiber-to-the-home (FTTH)/fiber-to-the-curb (FTTC)/fiber-to-the-node (FTTN) deployments.

Institutional Ownership by Quarter for EXFO (NASDAQ:EXFO)

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