Quantitative Systematic Strategies LLC Buys Shares of 17,153 Ciena Co. (CIEN)
Quantitative Systematic Strategies LLC bought a new position in shares of Ciena Co. (NYSE:CIEN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,153 shares of the communications equipment provider’s stock, valued at approximately $359,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Howe & Rusling Inc. purchased a new position in Ciena in the 3rd quarter valued at approximately $158,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ciena by 47.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,488 shares of the communications equipment provider’s stock worth $157,000 after buying an additional 2,403 shares in the last quarter. First Quadrant L P CA purchased a new position in Ciena during the third quarter worth $183,000. Advisor Group Inc. increased its position in Ciena by 6.4% during the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock worth $151,000 after buying an additional 604 shares in the last quarter. Finally, Oakbrook Investments LLC purchased a new position in Ciena during the third quarter worth $235,000.
In other Ciena news, VP David M. Rothenstein sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $19.50, for a total value of $39,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Andrew C. Petrik sold 3,800 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $21.22, for a total value of $80,636.00. The disclosure for this sale can be found here. Insiders sold 212,743 shares of company stock worth $4,526,441 in the last quarter. 1.45% of the stock is owned by insiders.
Ciena Co. (NYSE CIEN) opened at $22.29 on Thursday. Ciena Co. has a fifty-two week low of $19.40 and a fifty-two week high of $27.98. The firm has a market capitalization of $3,261.53, a price-to-earnings ratio of 16.21, a P/E/G ratio of 1.45 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.68.
Ciena (NYSE:CIEN) last issued its earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). Ciena had a net margin of 45.04% and a return on equity of 18.32%. The firm had revenue of $744.40 million during the quarter, compared to analyst estimates of $736.91 million. During the same quarter in the previous year, the business posted $0.44 EPS. Ciena’s revenue was up 3.9% compared to the same quarter last year. equities analysts forecast that Ciena Co. will post 1 EPS for the current fiscal year.
Ciena announced that its Board of Directors has initiated a share buyback program on Thursday, December 7th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Ciena Company Profile
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.
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