Investors Buy High Volume of Put Options on Ciena (NYSE:CIEN)
Ciena Co. (NYSE:CIEN) saw some unusual options trading activity on Wednesday. Traders bought 26,639 put options on the company. This is an increase of approximately 876% compared to the typical volume of 2,729 put options.
NYSE CIEN traded up $4.70 on Thursday, reaching $40.11. 8,637,125 shares of the company’s stock traded hands, compared to its average volume of 2,344,914. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 35.81, a P/E/G ratio of 0.89 and a beta of 1.06. The stock has a 50 day moving average price of $36.97 and a 200-day moving average price of $39.98. Ciena has a fifty-two week low of $30.77 and a fifty-two week high of $46.78. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 2.90.
Ciena (NYSE:CIEN) last posted its earnings results on Thursday, December 12th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). The business had revenue of $968.00 million for the quarter, compared to analyst estimates of $966.28 million. Ciena had a net margin of 6.77% and a return on equity of 13.64%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. As a group, equities research analysts anticipate that Ciena will post 1.88 EPS for the current fiscal year.
In other Ciena news, CEO Gary B. Smith sold 59,000 shares of Ciena stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $62.14, for a total value of $3,666,260.00. Also, CFO James E. Moylan, Jr. sold 2,000 shares of Ciena stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $34.61, for a total transaction of $69,220.00. The disclosure for this sale can be found here. Insiders have sold 93,242 shares of company stock valued at $4,958,834 in the last three months. 1.20% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of CIEN. Tobam acquired a new stake in shares of Ciena during the 2nd quarter valued at about $33,000. CENTRAL TRUST Co acquired a new stake in shares of Ciena during the 3rd quarter valued at about $39,000. Coastal Capital Group Inc. acquired a new stake in shares of Ciena during the 2nd quarter valued at about $41,000. MUFG Americas Holdings Corp acquired a new stake in shares of Ciena during the 3rd quarter valued at about $55,000. Finally, Flagship Harbor Advisors LLC grew its position in shares of Ciena by 134.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,509 shares of the communications equipment provider’s stock valued at $59,000 after acquiring an additional 864 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.
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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